China’s Property Debt Woes Deepen as Vanke Under Closer Scrutiny
- At least two insurers told annuity managers to monitor risks
- Vanke said funds ready for dollar bond repayment due March 11
A China Vanke development in Hefei, China.
Source: BloombergThis article is for subscribers only.
China’s property debt crisis is showing new signs of trouble after entering its fourth year, with one of the country’s major state-backed developers placed under unprecedented scrutiny by investors.
Some of China’s largest insurers are sounding an alarm over the debt risks of China Vanke Co., according to people familiar with the matter, as shares and bonds of the major developer hit record lows on repayment concerns.