After years of trying to stabilize its troubled real estate sector, Beijing has unexpectedly intervened to support Vanke, the country’s second-largest property developer. This follows a downgrade in Vanke’s credit rating to Ba1, considered junk status, by Moody’s. Chinese state media reported that 12 major banks, including the top six state-owned lenders, are arranging a […]
A Rare Bailout in China Sends Mixed Signals
Beijing hopes the illusion of improvement in the real estate sector will bring back foreign investors.
