Vanke Tag

15 Apr China property: Beijing needs US$2.1 trillion to revive sector as rescue plans have not been good enough, Goldman says

Posted at 11:30h in Asia

China’s housing market has further room to weaken as efforts to revive the sector have not gone far enough to arrest a three-year slump, according to Goldman Sachs. The government may need to spend more than 15 trillion yuan (US$2.1 trillion) to fix the problems...

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15 Apr China Vanke says well prepared to resolve liquidity problems, denies travel ban imposed on officials

Posted at 05:41h in Asia

Embattled China Vanke said it is well-prepared to resolve its liquidity problems and operational difficulties, rejecting allegations the company’s majority shareholders were diverting its assets. It also denied that travel restrictions were imposed on its key managerial staff.While dismissing default concerns, the developer told investors...

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01 Apr China’s new home sales slide for 10th month with buyers sidelined, lending push failing to halt liquidity crisis

Posted at 08:30h in Asia

China’s property developers recorded another set of dismal operating results as new home sales tumbled for a 10th straight month, suggesting it would be premature to expect a turnaround in a three-year slump in the industry.Sales at the nation’s 100 biggest home builders tumbled 46...

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15 Mar China struggles to arrest a 9-month slide in new home prices as cash squeeze among big developers keeps buyers on sidelines

Posted at 05:38h in Asia

Home prices in China fell for the ninth month in February, suggesting weak underlying demand and confidence among consumers despite measures by authorities to loosen buying restrictions and boost lending to struggling developers.Prices of new homes in 70 medium and large cities fell 0.4 per...

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13 Mar Country Garden making ‘best effort’ to raise US$13 million bond coupon within grace period as China housing crisis crushes home sales

Posted at 07:38h in Asia

Country Garden Holdings said it is doing its best to raise cash and repay holders of its local-currency bonds and avert a default, after a multi-year housing slump damaged confidence, home sales and cash flows.The distressed developer did not pay the 96 million yuan (US$13.3...

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11 Mar Chinese regulators ask large banks to step up support for Vanke, sources say

Posted at 09:16h in Asia

Chinese regulators recently met financial institutions to discuss state-backed property developer China Vanke where they asked large banks to enhance financing support and asked private debt holders to discuss maturity extension, two sources said.The sources with direct knowledge of the matter said the financial institutions...

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07 Mar Opinion | How can China hit its GDP target when it needs to grow just to stand still?

Posted at 12:30h in Asia

Does anyone really believe that China will hit its growth target for this year of “around 5 per cent”? Even Premier Li Qiang, who announced the ambitious goal on Tuesday at the opening session of the annual National People’s Congress, is sceptical, acknowledging that it...

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05 Mar China Vanke pledges to repay offshore debts due soon as it seeks calm amid liquidity crisis rumours

Posted at 09:30h in Asia

China Vanke, the country’s second-largest property developer, has pledged to repay its outstanding offshore debts that are coming due soon, as its shares and bonds tumbled amid rumours about liquidity distress.The company has prepared all the funds needed for the repayment of a US$630 million...

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01 Mar China property sales fall in February, expectations grow purchase restrictions could be eased

Posted at 06:30h in Asia

Property sales in mainland China declined for the tenth straight month in February, as lower demand during the Spring Festival holidays weighed and expectations are the beleaguered sector’s woes will continue, pressured by low homebuyer confidence.China’s top 100 developers posted total contracted sales of 185.7...

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