Beijing Steps In: Vanke's Bailout Amid China's Real Estate Meltdown | Vantage with Palki Sharma

Beijing Steps In: Vanke's Bailout Amid China's Real Estate Meltdown | Vantage with Palki Sharma

In a critical move to avert a wider real estate market collapse, Beijing has intervened to support Vanke, one of China's largest property developers, now teetering on the edge of failure. This intervention marks a departure from China's previous stance during the defaults of giants like Evergrande and Country Garden, where direct aid was withheld.

Following a downgrade to 'junk' status by Moody’s, Chinese banks are now rallying to provide Vanke with a syndicated loan of up to 80 billion yuan ($11.2 billion), aiming to secure the firm's immediate financial obligations. This effort by Beijing and 12 major banks, including the top six state-owned lenders, underscores the government's intensified efforts to restore confidence in the faltering real estate industry and prevent another major developer's downfall.

Also Read: https://www.firstpost.com/opinion/van...

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China | Vanke | Credit Rating | Junk | Moody's | Firstpost | World News | Vantage | Palki Sharma

#china #biggest #propertydeveloper #creditrating #junk #moodys #citizenshipamendmentact #caa #india #caaindia #controversy #minorities #opposition #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

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