This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact The Epoch Times Reprints.
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
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.
