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.
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