Moody's downgrades major Chinese property developer Vanke
Beijing (AFP) Mar 12, 2024
Moody's has downgraded one of China's largest housing developers' credit rating, as woes in the country's property sector show no sign of abating. China's real estate market is grappling with unprecedented challenges, with some developers on the verge of bankruptcy and lower property prices deterring consumers from making investments. Vanke - long considered to be financially stable -