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China Vanke is restructuring debt amid financial pressure, delaying payments and nearing default, despite remaining operational.
China Vanke is developing a debt restructuring plan under pressure from Chinese authorities, nearing default, according to Bloomberg, as the company faces financial strain amid the ongoing property market crisis.
It has reportedly reached agreements with domestic banks to delay interest payments until September, though this remains unconfirmed.
The company also announced the resignation of executive vice president Yu Liang, citing retirement, though operations remain unaffected.
Vanke, one of the last major developers without a default, continues to negotiate debt obligations, including a 2 billion yuan note due in December 2025, and is seen as relatively resilient compared to peers.
China Vanke está reestructurando la deuda en medio de la presión financiera, retrasando los pagos y acercándose al incumplimiento, a pesar de permanecer operativo.