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Market Chatter: China Regulators Urge Banks to Ease Vanke Debt Pressure

MT Newswires Live10:54

Chinese financial regulators have asked some banks to extend repayment deadlines for CHINA VANKE and avoid classifying certain overdue loans to the developer as non-performing, Reuters reported, citing people familiar with the matter.

The regulators have also urged lenders to hold off on collecting some interest payments and avoid actions that could worsen Vanke's cash strain, according to the report.

The duration of any loan classification extensions remains unclear and will depend on property-market conditions and further discussions with Vanke, Reuters added.

China Vanke did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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