China Vanke says it has plans in place amid short-term liquidity pressure

A construction worker at China Vanke Co.'s Isle Maison development in Hefei, China. - Bloomberg

HONG KONG: State-backed property developer China Vanke said it is facing short-term liquidity pressure and operational difficulties, but added that it has prepared "a basket of plans" to stabilise its business and cut debt.

Vanke's Hong Kong-listed shares were down more than 1% in late trading on Monday after earlier hitting a record trading low, while its Shenzhen-listed shares edged up 0.6%, stabilising after nine consecutive sessions of decline.