China regulators urge banks to keep Vanke loans non-bad-debt
Sources say regulators asked some banks not to classify overdue loans to China Vanke as non-performing and to extend repayment deadlines for the state-backed developer.
Chinese financial regulators have asked some banks not to classify overdue loans to China Vanke SZSE:000002 as non-performing and to extend repayment deadlines for the state-backed developer, people familiar with the matter said. The move is one of Beijing's strongest interventions yet to prevent a default.