Property developer China Vanke expects to lose around Rmb45 billion $6.2 billion in 2024, according to a filing to the Hong Kong Stock Exchange HKEX on January 27.
The filing said the property giant is “experiencing temporary liquidity difficulties”.
Local and state governors in Shenzhen said through state media that they would “proactively support” the group according to The Business Times, suggesting the Chinese are keen to avoid the group going the same way as property giant Evergrande which went into liquidation in January last year.
Yu Liang decided to resign from the position as the chairman of the board due to...
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