Hong Kong Shenzhen Metro

China Vanke gets $383 mln loan from state shareholder

Cash-strapped China Vanke said its major shareholder, state-owned Shenzhen Metro, is giving it a 2.8 billion yuan ($383.12 million) loan, in a sign the government is stepping up efforts to stabilise the property developer.

MarketWatch · 3d

China Vanke Secures Cheap Loan From State-Owned Shareholder

The Shenzhen-based company said in a filing late Monday that it received the loan from Shenzhen Metro Group, which is a state-owned subway operator in one of the biggest cities in China. The loan was at interest rate of 2.34%, below China's one-year loan prime rate at 3.1%.

FinanceAsia · 6d

China Vanke secures Rmb2.8bn loan from Shenzhen Metro Group

Shenzhen Metro Group is the Chinese property giant's largest shareholder with the move coming after Vanke said it could make a loss of up to Rmb45bn in 2024.

Reuters on MSN · 2d

China considers plan to help Vanke repay $6.8 billion debt

The proposal involves regulators allocating 20 billion yuan in special local government bonds to buy unsold properties and vacant land from Vanke, the report on Wednesday said, citing people familiar with the matter.

scmp.com · 3d

China Vanke secures US$383 million lifeline from Shenzhen Metro Group to repay debt

Vanke will provide assets of up to 4 billion yuan as collateral to Shenzhen Metro Group via an 18 per cent stake transfer in its property management unit Onewo. The loan facility,

4don MSN

Vanke Gets $383 Million Loan From State Backer for Debt

China Vanke Co. won more support from authorities as its largest state shareholder agreed to provide up to 2.8 billion yuan ...

18d

China Vanke's CEO, chairman resign as $6.2 billion forecast loss deepens concerns

Property developer China Vanke said on Monday its chairman Yu Liang and CEO Zhu Jiusheng stepped down as it forecast a record $6.2 billion net loss for 2024, as concerns over the company's liquidity ...

Prestige Online4d

A Guide to the Best Chinese Cities to Explore in Day Trips from Hong Kong

Escape the ordinary with exciting day trips from Hong Kong to China, exploring Shenzhen, Macau, and more for an unforgettable ...

Bangkok Post26d

Lunar New Year shopping: Hong Kong and Shenzhen battle for dollars and deals

HONG KONG - A cross-border battle is ... I met a consumer who did some calculations. The round-trip subway fare from Sheung Shui to Sungang in Shenzhen costs more than 70 yuan [330 baht].

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