Is China Vanke Co. the last one standing as the nation’s unprecedented property downturn and developer defaults enter a third year?
In a Sunday meeting with brokers, China’s second-largest builder by sales denied rampant market rumors and explained in detail the circumstances of a funding dispute with a business partner as well as the emigration of a senior executive. Vanke’s dollar bonds tumbled in recent days amid weak home sales.
Is China Vanke Co. the last one standing as the nation’s unprecedented property downturn and developer defaults........