Reported about 2 months 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