China’s Top Real Estate Giants Struggle with Debt, Vanke Faces Default

China’s Top Real Estate Giants Struggle with Debt, Vanke Faces Default
This aerial photograph taken on August 30, 2023 shows a residential complex built by Chinese real estate developer Vanke in Zhengzhou, in China's central Henan province. (Photo by AFP) Photo by -/AFP via Getty Images
Updated:
0:00
News Analysis

The largest residential real estate developer in China, Vanke, is in a debt crisis, along with other real estate companies ranked in the top ten. If the state-backed Vanke defaults, it could lead to a total collapse of China’s real estate sector, which would significantly impact the stability of the Chinese regime.