China Vanke says Shenzhen Metro agrees to provide loans of up to 22 billion yuan

China Vanke (2202), a state-backed property developer battling liquidity stress, said on Sunday its largest shareholder, Shenzhen Metro Group, agreed to provide loans of up to 22 billion yuan (HK$24 billion), a stock exchange filing showed.

One of China's best-known household names, with many projects across bigger cities, Vanke is about a third owned by Shenzhen Metro.

Reuters