China Vanke Crisis Prompts Smaller Builder to Reassure Creditors

Ripples from the crisis at Chinese developer China Vanke Co. are reaching all the way to builders fully owned by the state.

One such firm, Overseas Chinese Town Enterprises Co., told some bondholders in meetings Monday and Tuesday that Vanke’s crisis has already impacted the property market this year and that it wanted to address those concerns, according to people familiar with the matter.