China Vanke Co. has been thrown a lifeline by state authorities, a rare show of support that signals the developer may be too big to fail even after dozens of property firms defaulted amid China’s punishing housing slump.

Troubles at Vanke raise questions about the continued spread of the property crisis and whether the Chinese state will step in.

Embattled builder China Vanke, once the second-largest Chinese developer by sales, reshuffled its management while forecasting a record US$6.2 billion net loss for 2024 as it struggles to get out from under US$4.

Real estate developer says it expects $6.2bn annual loss and announces sudden resignation of chair and chief executive

as Beijing in the recent past has been ramping up efforts to bolster homebuyer confidence, JPMorgan said in a research note on Jan. 16. A "clear government bailout" of Vanke would probably be the ...

Zhu Jiusheng, CEO of Vanke, was "taken away by public security authorities", the Economic Observer reported, citing sources.

China Vanke Co has received a lifeline by state authorities, a rare show of support that signals the developer is too big to fail even as dozens of property firms default amid China’s punishing housing slump.

China Vanke stock surged following a management reshuffle, raising hopes for government support, though liquidity concerns persist amid the property slump.

Shares of China Vanke jumped after key management changes fueled hopes that the government is stepping in to rescue the troubled property developer.

China continued easing its visa policies in 2024 to boost openness and people-to-people exchange, allowing more foreign travelers and businesspeople to visit the country visa-free. Its latest move was an extension of its visa-free transit policy, which has permitted eligible foreign travelers to stay in the country for 240 hours without a visa.

Statistics released by China’s General Administration of Customs and first published by The Australian reveal Australia’s exports to China fell by 9 per cent last year to $213.7bn, as the price of iron ore weakened and lithium tumbled, more than wiping out gains from Australian agricultural products that Beijing has allowed to return to its market.