Indebted Chinese property giant Vanke warned Monday of a major loss last year amid a continuing market slump, while also saying its CEO was resigning due to "health reasons". Vanke has not confirmed Zhu's detention but said in a statement on Monday that he "has applied to

More than three years into China’s housing crisis, there is still no sign of its ending. Now, as private and locally-owned developers keep faltering, the sector is becoming more state-dominated. That marks a stunning reversal for an industry that has been a poster child for China’s economic development.

By Clare Jim, Ziyi Tang, Kane Wu HONG KONG (Reuters) -After numerous measures to resolve a liquidity crisis in the property market in recent years, Beijing is expected to end up dusting off an old playbook and step in directly to stabilise a state-backed developer seen as a bellwether for the sector.

China Vanke Co. has been thrown a lifeline by state authorities, a rare show of support that signals the developer may be too big to fail even after dozens of property firms defaulted amid China’s punishing housing slump.

Real estate developer says it expects $6.2bn annual loss and announces sudden resignation of chair and chief executive

Embattled builder China Vanke, once the second-largest Chinese developer by sales, reshuffled its management while forecasting a record US$6.2 billion net loss for 2024 as it struggles to get out from under US$4.

China Vanke Co has received a lifeline by state authorities, a rare show of support that signals the developer is too big to fail even as dozens of property firms default amid China’s punishing housing slump.

Beijing has in recent years grappled with a prolonged crisis in the country’s vast real estate sector, once a key pillar of the economy but now beset with sprawling debt. Hong Kong-listed Vanke ...

Indebted Chinese property giant Vanke warned Monday of a major loss last year amid a continuing market slump, while also saying its CEO was resigning due to "health reasons". Beijing has in recent ...

Vanke’s bonds soared as investors bet that ... Garden Holdings that defaulted in recent years with little help from Beijing or other government entities. In a time of both misinformation and ...

China Vanke stock surged following a management reshuffle, raising hopes for government support, though liquidity concerns persist amid the property slump.

China Vanke Co’s chairman and chief executive officer will both resign in an abrupt move after the embattled developer warned of a record 45 billion yuan ($8.34 billion) loss for 2024.