After Evergrande and Country Garden, Vanke is the latest real estate conglomerate caught up in the crisis in China. The rating agency Moody's lowered the promoter's rating by one notch on Tuesday March 12.
Financial risks could increase in the next 12 to 18 months for Vanke, due to difficulties in accessing financing. Investors are wary and have dumped the developer's stocks and bonds in recent weeks. In a context of real estate crisis and falling prices, the Chinese have stopped investing in real estate.