China on Friday unveiled an unprecedented package of measures to encourage homebuyers to enter markets, after property sales and investment fell in the first four months of this year. The People’s Bank of China (PBoC) said it will establish a nationwide program to unleash 300 billion yuan (US$41.5 billion) in cheap funding to help state-owned-enterprises
By Clare Jim HONG KONG (Reuters) -State-backed property developer China Vanke said it is facing short-term liquidity pressure and operational difficulties, but added that it has prepared “a basket of plans” to stabilise its business and cut debt. Vanke’s Hong Kong-listed shares were down more than 1% in late trading on Monday after earlier hitting
Heavily indebted China Vanke, one of China’s largest developers, said it has secured a long-term loan from a Chinese commercial bank, providing it some relief following its credit rating downgrade a week ago by Moody’s to junk status. The Shenzhen-based developer said in a statement filed with the Hong Kong exchange late on Tuesday that