The CEO and chairman have stepped down as the company looks to solve "temporary liquidity difficulties", in part through the support of its largest shareholder, the state-owned Shenzhen Metro Group.

Troubles at Vanke raise questions about the continued spread of the property crisis and whether the Chinese state will step in.

Top executives at China Vanke Co., a leading property developer, have announced their resignations, according to a filing with the Hong Kong stock exchange on Monday.

The little-known artificial intelligence firm has emphasized research, even as it emerged as the brainchild of a hedge fund.

Property developer China Vanke on Monday said its chairman Yu Liang and CEO Zhu Jiusheng had resigned, amid concerns over the company's liquidity as

China Vanke Co’s chairman and chief executive officer will both resign in an abrupt move after the embattled developer warned of a record 45 billion yuan ($8.34 billion) loss for 2024.

China Vanke Co has received a lifeline by state authorities, a rare show of support that signals the developer is too big to fail even as dozens of property firms default amid China’s punishing housing slump.

The Company makes available through the Investor Relations section of its internet website at http://ir.yumchina.com its filings with the HKEX as soon as reasonably practicable after electronically filing such materials with the HKEX. These filings may also be obtained by visiting the HKEX's website at http://www.hkex.com.hk.

New shades of capitalism are emerging in China's tuckered out stock market as companies, at Beijing's behest, buy back their shares and pay record dividends to investors lying in wait for a so-far evasive rebound.

The historic legislation for Basic Law Article 23, aimed at safeguarding national security and ensuring Hong Kong's stability and development, has topped a list of the ten most significant policies by the Hong Kong Special Administrative Region (HKSAR) government in 2024.

After China's DeepSeek prompts AI rethink, Nvidia stock slides. Follow along for live updates on stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

In currencies, the dollar jumped 0.3% against the Chinese yuan in offshore trading, and rallied 0.4% versus the Aussie and 0.5% versus the New Zealand dollar, with the antipodean currencies tending to act as more liquid proxies for China's currency due to close trade ties.