Jan 16, 2025 · China Vanke CEO Zhu Jiusheng was detained by public security authorities on Wednesday and a Shenzhen government task force has stepped in to oversee the property developer's operation, state...

17th January 2025 – (Hong Kong) Shares of Vanke, one of China’s largest property developers, dropped sharply by 7.4% on Thursday morning, following reports that CEO Zhu Jiusheng had been taken away by police.

CEO Zhu Jiusheng is also quitting, citing “health reasons.” He will no longer hold any positions at the company. Xin Jie, chairman of Shenzhen Metro Group Co., will replace Yu. The state-owned ...

Jan 17, 2025 · Zhu Jiusheng, the CEO of China Vanke, was taken into custody by public security authorities on Wednesday, according to a report from state media outlet The Economic Observer. The unexpected development has intensified scrutiny of the real estate giant's financial stability amid a prolonged slump in China's property market.

Jan 27, 2025 · Property developer China Vanke said on Monday its chairman Yu Liang and CEO Zhu Jiusheng stepped down as it forecast a record $6.2 billion net loss for 2024, as concerns over the company's...

Jan 17, 2025 · Zhu Jiusheng, CEO of Vanke, was "taken away by public security authorities", the Economic Observer reported, citing sources. Hong Kong-listed Vanke, which is part-owned by the government of Shenzhen, was China's fourth-largest real-estate firm by sales last year, according to research firm CRIC.

The company also warned on Monday of a net loss of approximately 45 billion yuan ($6.2 billion) last year. Chinese outlet the Economic Reporter this month cited sources as saying that Zhu Jiusheng ...

Jan 16, 2025 · China Vanke's CEO, Zhu Jiusheng, was detained by public securities authorities, shaking the company amid volatile bond prices. The troubled property's financial woes are aggravated by recent market slumps, prompting a vigorous attempt to secure funds for public bond obligations due by 2025.

Jan 16, 2025 · China Vanke's CEO Zhu Jiusheng has been detained by public security authorities, stirring volatility in the company's bond prices. Amid a protracted property market downturn, Vanke aims to secure funds to meet its bond commitments by 2025, affirming its determination to weather the fiscal challenges.

Jan 16, 2025 · China Vanke CEO Zhu Jiusheng was detained on Wednesday, prompting a Shenzhen government task force to oversee the property's operations, as reported by The Economic Observer. With a possible government takeover looming, this move could exacerbate challenges in China's property sector.