Vanke’s Bid to Delay Bond Payment Spurs Selloff in Developers

China Vanke’s proposal to delay repayment of an onshore bond led to trading halts in three other local notes and triggered a selloff in shares of Chinese property developers, ratcheting up fears about the country’s drawn-out real estate crisis.

- By Jianui Huang

Vanke, one of China’s biggest real-estate companies, was once regarded as one of its most solid. It is among the few major Chinese developers that have yet to default amid the country’s property bust.