UBS Group AG real estate analyst John Lam, a market veteran who spotted problems at China Evergrande Group before his peers, has joined a chorus of observers declaring that China’s yearslong property downturn is finally losing steam.
UBS Group AG real estate analyst John Lam, a market veteran who spotted problems at China Evergrande Group before his peers, has joined a chorus of observers declaring that China’s yearslong property downturn is finally losing steam.
Just months into China’s housing downturn, the nation’s second-biggest developer declared the worst is over. A year later, its chairman backtracked on the call, and by 2025, it was teetering on the brink of a default.
Just months into China’s housing downturn, the nation’s second-biggest developer declared the worst is over. A year later, its chairman backtracked on the call, and by 2025, it was teetering on the brink of a default.
Just months into China’s housing downturn, the nation’s second-biggest developer declared the worst is over. A year later, its chairman backtracked on the call, and by 2025, it was teetering on the brink of a default.
Just months into China’s housing downturn, the nation’s second-biggest developer declared the worst is over. A year later, its chairman backtracked on the call, and by 2025, it was teetering on the brink of a default.
China Vanke Co.’s state-owned backer reported its biggest annual loss in two decades, driven largely by its investments in the embattled developer, which has been grappling with a liquidity crunch for more than two years.
China Vanke Co.’s state-owned backer reported its biggest annual loss in two decades, driven largely by its investments in the embattled developer, which has been grappling with a liquidity crunch for more than two years.
Road construction outside China Vanke Co.'s Donglu residential compound in Beijing.
China’s tech hub of Shenzhen will ease home buying restrictions in the city’s prime districts and raise housing provident fund loan caps in the latest attempt by authorities to contain the nation’s prolonged property slump.
China’s tech hub of Shenzhen will ease home buying restrictions in the city’s prime districts and raise housing provident fund loan caps in the latest attempt by authorities to contain the nation’s prolonged property slump.
China Vanke Co. has been negotiating with bondholders to stave off the risk of default. Photographer: Qilai Shen/Bloomberg
China Vanke Co. won enough creditor backing to extend payments on a yuan bond due Thursday for a year, easing the embattled developer’s risk of an imminent default, at least for now.
China Vanke Co. won enough creditor backing to extend payments on a yuan bond due Thursday for a year, easing the embattled developer’s risk of an imminent default, at least for now.
China Vanke Co. posted a record 88.6 billion yuan ($12.8 billion) loss last year, a sign of the deepening problems facing the developer ahead of a wall of upcoming debt maturities.
China Vanke Co. posted a record 88.6 billion yuan ($12.8 billion) loss last year, a sign of the deepening problems facing the developer ahead of a wall of upcoming debt maturities.
China Vanke Co.’s stake in a logistics firm that’s facing mounting investor concerns is adding to the strain on the distressed developer, just as another wave of looming debt maturities stokes default risks again.
China Vanke Co.’s stake in a logistics firm that’s facing mounting investor concerns is adding to the strain on the distressed developer, just as another wave of looming debt maturities stokes default risks again.
Road construction outside China Vanke Co.'s Donglu residential compound in Beijing, China, on Sunday, Dec. 21, 2025. Vanke, once the country’s biggest developer before it succumbed to an unprecedented property crisis, is heading into one of the most consequential days since it was founded in the 1980s. Source: Bloomberg/Bloomberg
Chinese officials pledged to stabilize the real estate sector at a crucial political meeting, but stopped short of announcing major policies some economists think are needed to turn around a yearslong slump.
Chinese officials pledged to stabilize the real estate sector at a crucial political meeting, but stopped short of announcing major policies some economists think are needed to turn around a yearslong slump.
Chinese officials pledged to stabilize the real estate sector at a crucial political meeting, but stopped short of announcing major policies some economists think are needed to turn around a yearslong slump.
Chinese officials pledged to stabilize the real estate sector at a crucial political meeting, but stopped short of announcing major policies some economists think are needed to turn around a yearslong slump.
China’s financial hub of Shanghai eased homebuying rules, the latest attempt by authorities to contain the nation’s prolonged property slump.
Cycles near a large residential development during construction in Shanghai, China, on Saturday, July 12, 2025. China’s economy likely expanded just above the government’s full-year growth target in the second quarter, easing pressure on Beijing to roll out additional stimulus in the near term.
China Vanke Co.’s $12 billion record loss underscores how its ability to avoid default depends on how far its state shareholder is willing to support the stricken property developer.
China Vanke Co.’s $12 billion record loss underscores how its ability to avoid default depends on how far its state shareholder is willing to support the stricken property developer.
A building under construction at a China Vanke Co. development in Beijing. Bloomberg
China Vanke Co. won enough creditor backing to extend payments on a yuan bond for a year, after it sweetened an earlier proposal with an upfront cash payment, easing the embattled developer’s risk of an imminent default.
China Vanke Co. won enough creditor backing to extend payments on a yuan bond for a year, after it sweetened an earlier proposal with an upfront cash payment, easing the embattled developer’s risk of an imminent default.
China Vanke Co.’s bonds extended their rally, a day after the distressed developer unveiled sweetened proposals to extend payments on some notes, potentially easing the risk of an imminent default.
China Vanke Co.’s bonds extended their rally, a day after the distressed developer unveiled sweetened proposals to extend payments on some notes, potentially easing the risk of an imminent default.
The Yunhe Vanke Center construction site in Beijing. Source: Bloomberg/Bloomberg
China Vanke Co. is bracing for its next major test as the developer that’s become a symbol of the nation’s broader property crisis navigates a proposal to delay bond payments and drafts broader restructuring plans.
China Vanke Co. is bracing for its next major test as the developer that’s become a symbol of the nation’s broader property crisis navigates a proposal to delay bond payments and drafts broader restructuring plans.
China Vanke Co., once the country’s biggest developer before it succumbed to an unprecedented property crisis, won last-minute support from creditors to extend a bond grace period in a reprieve that helps it avoid default, at least for now.
China Vanke Co., once the country’s biggest developer before it succumbed to an unprecedented property crisis, won last-minute support from creditors to extend a bond grace period in a reprieve that helps it avoid default, at least for now.
Signage for China Vanke Co. in Shenzhen. Photographer: Qilai Shen/Bloomberg
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