Rare China support shows Vanke may be too big to fail

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The story "Rare China support shows Vanke may be too big to fail" was covered 6 days ago by The Straits Times, a news publisher based in Singapore.

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The Straits Times 6d ago

Rare China support shows Vanke may be too big to fail - The Straits Times

Quick Summary:

Official from its largest state shareholder to take over as chairman as state government vows support.

The Vanke lifeline also signals that China is willing to take more steps to halt a housing slump that’s now in its fourth year.

Investors welcomed the moves.Vanke’s 3.15 per cent dollar bond maturing in May rose about 11 cents to 92 cents on Jan 27 – the biggest jump in more than a year – well above the distressed levels of many developer peers.A 3.975 per cent note due November 2027 climbed to about 66 cents, more than double the price from 10 days ago.