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China Vanke’s Paths to Avoid Default Narrow After Failed Vote

China Vanke Co., the nation’s last major developer to have so far avoided default amid an unprecedented property crisis, has been left with little time to keep debt failure at bay after creditors spurned its proposal to push back a looming bond payment.

Residential buildings under construction at the China Vanke Co. Isle Maison development in Shanghai, China, on Friday, Jan. 17, 2025. Concerns over China Vanke spiked amid questions on the latest status of its top executive and a local news report that the property developer may be seized by state authorities.
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