Real estate crisis in China: government takes over Vanke
The debt crisis is coming to a head: Vanke, one of China's largest developers, is under state control. How does this affect the market?
The takeover of Vanke by the Chinese government is the latest chapter in the ongoing real estate crisis. Once a symbol of the boom in the sector, the property developer now stands for the problems plaguing the sector: falling sales figures, growing debts and confidence that continues to wane. The Vanke case is a clear warning signal.
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