Moody’s withdraws China property developer Vanke ‘Baa3’ rating | Forexlive

Moody’s citing growing liquidity concerns, falling property sales. Says the firm would need to offer discounts to strengthen its sales during the downturn, and thus will have a weaker profit margin.

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China Vanke was seen by the market as a financially sound developer.

It has the backing of the Chinese government. State-owned Shenzhen Metro holds a 33% stake. Good luck with that.