Indebted property developer China Vanke has secured a 1.55 billion yuan (US$215.4 million) loan from state-owned Shenzhen Metro Group, offering some respite as it looks to meet US$3.4 billion in ...

Vanke has seen a shakeup of its top management, including the resignation of its CEO Zhu Jiusheng on January 27 which the company said was "due to health reasons".

Last month, Shenzhen Metro parachuted in a new chair and chief executive after swirling rumours over the whereabouts of its former leader Zhu Jiusheng and a warning of a $6.2bn loss for 2024.

In January Vanke’s sales fell by 43% year on year. The same month Zhu Jiusheng, the firm’s chief executive, was reported to have been detained. He later stepped down, citing “health reasons”.

In late January, China Vanke's chairman Yu Liang and CEO Zhu Jiusheng stepped down after it forecast a record $6.2 billion net loss for 2024. The Shenzhen government has since tightened control over ...

Earlier this year, China Vanke's chairman Yu Liang and CEO Zhu Jiusheng stepped down as it forecast a record $6.2 billion net loss for 2024.

Ratings agency Moody's downgraded China Vanke further on Tuesday and maintained its negative outlook on the embattled property developer that is grappling with a liquidity crisis and sluggish ...

In late January, China Vanke’s chairman Yu Liang and CEO Zhu Jiusheng stepped down after it forecast a record $6.2 billion net loss for 2024.