China’s Support for Top Builder Revives Calls for Broader State Rescue
- Authorities met firms including Vanke and Longfor on Tuesday
- Markets expect more policy easing to support sector: Invesco
Apartment blocks under construction at a China Vanke Co. residential development, center, in Xining, Qinghai province, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s show of support for one of its top builders has reinvigorated the property sector, but investors want to see more concrete measures before diving back in.
Market players are looking for Beijing to unveil further steps to reverse a long-running slump after a pivotal week where authorities signaled their backing for China Vanke Co., the second-largest developer by contracted sales. On Tuesday, policymakers met firms including Vanke, Longfor Group Holdings Ltd, Gemdale Corp (China) and Poly Developments and Holdings Group Co., according to people with knowledge of the matter.