China Vanke's near-default exposes fragility of the faltering recovery in the property industry
Associated Press
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The Vanke logo is seen on a commercial complex in Beijing, China, Wednesday, Dec. 24, 2025. (AP Photo/Ng Han Guan)A delivery man passes by a Vanke logo on a commercial complex in Beijing, China, Wednesday, Dec. 24, 2025. (AP Photo/Ng Han Guan)A woman leaves from a Vanke residential complex in the district of Changping on the outskirts of Beijing, China, Wednesday, Dec. 24, 2025. (AP Photo/Ng Han Guan)Workers using heavy machineries to demolish an old building near a residential area in Beijing, Tuesday, Dec. 23, 2025. (AP Photo/Andy Wong)People walk down steps near a residential building area with a view of China Zun, the tallest skyscraper in Beijing, Tuesday, Dec. 23, 2025. (AP Photo/Andy Wong)
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The Vanke logo is seen on a commercial complex in Beijing, China, Wednesday, Dec. 24, 2025. (AP Photo/Ng Han Guan)