China's property crisis could get even uglier. This time, a state-backed developer is the one raising concerns.

Wed, 03/13/2024 - 02:39

China's years-long property crisis could get worse.
There are concerns over Vanke amid reports the state-backed property developer was seeking debt maturity extensions.
If Vanke defaults, it could undermine confidence in all property developers in China.

China's years-long real-estate debt crisis has already taken down property giant Evergrande, which is undergoing liquidation.