China Asks Banks to Shield Vanke Loans
Chinese financial regulators have asked major banks not to classify overdue loans to China Vanke as non-performing. The informal guidance aims to prevent a default and ease the cash squeeze facing the state-backed developer.
Xurve View
Insights:
Xurve View
Chinese regulators asked major lenders to keep overdue loans to CHINA VANKE CO LTD-H off their bad-debt books, people familiar with the matter said on Tuesday morning. The informal window guidance marks one of Beijing's strongest interventions yet to prevent a default by the state-backed developer. It aims to ease a severe cash squeeze and protect the broader financial system from contagion.
