Reported about 18 hours ago
China Vanke's CEO was reportedly taken away by police, and the company might be taken over or restructured by state authorities, according to the Economic Observer. A local government task force is now managing the firm as Vanke faces a significant bond selloff and a substantial debt crisis, with nearly $4.9 billion in bond maturities expected in 2025. Despite its state backing, concerns over its financial stability continue to grow.
Source: YAHOO