Reported about 1 month ago
China Vanke Co., once a strong player in the real estate market, reported its first loss in 20 years, raising alarm about its ability to handle a substantial debt burden of nearly $1.69 billion. The firm's recent financial struggles highlight the broader challenges facing China's property sector as sales decline and prices remain low. Despite managing to avoid default so far, increased uncertainty surrounding its debts and downgraded credit ratings may pose significant risks ahead.
Source: YAHOO