Jan 28, 2025 · Vanke's struggles reflect broader issues in China's real estate sector, where declining homebuyer confidence and oversupply have created a cash-flow crisis for many developers. Once considered resilient in the face of market turmoil, Vanke reported a 34.6% year-on-year decline in total sales for 2024, amounting to 246 billion yuan ($33.7 billion).

Jan 27, 2025 · China Vanke, one of China’s largest property developers, said on Monday that its top executives were stepping down and warned of a $6.2 billion loss for 2024, the latest sign that China’s ...

Jan 27, 2025 · HONG KONG (Reuters) -Property developer China Vanke said on Monday its chairman Yu Liang and CEO Zhu Jiusheng stepped down as it forecast a record $6.2 billion net loss for 2024, as concerns over...

Jan 28, 2025 · China Vanke on Monday warned of an attributable net loss of RMB 45 billion ($6.2 billion) for 2024 and announced the resignation and departure of president and CEO Zhu Jiusheng, whose reported arrest earlier this month had signalled a change of direction at the struggling developer.

Jan 17, 2025 · The future of developer China Vanke and its $45 billion in debt were in focus on Friday after media reports alleged its CEO had been temporarily detained, deepening concerns about China's...

Jan 27, 2025 · 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 ($6.2 billion) loss for 2024.

Mar 12, 2024 · Chinese banks are reportedly scrambling to bail out one of the country’s biggest property developers after its credit rating was downgraded to “junk” status by Moody’s on Monday.

Jan 16, 2025 · China Vanke CEO Zhu Jiusheng was detained by public security authorities on Wednesday and a Shenzhen government task force has stepped in to oversee the property developer's operation, state...

Jan 20, 2025 · Chinese officials are working to stabilize the operations of China Vanke after liquidity stress and uncertainty over its CEO's whereabouts caused turmoil in the firm's bonds and shares last...

Jan 17, 2025 · Shares in developer China Vanke fell and rumours swirled about its CEO’s whereabouts on Friday, as the company’s debts led analysts to discuss a government rescue of the country’s largest builder...