Some large hedge funds and investors are accumulating long-shunned China property stocks at low prices, anticipating lucrative returns when the sector recovers from its prolonged crisis.
China Vanke Co. received another round of financial support from authorities, with its largest state shareholder planning to offer up to 4.2 billion yuan ($579 million) to help the distressed developer repay outstanding debt.
If a bail-out for Vanke is forthcoming, China’s leaders will have blinked. Although the rescue would be organised by local authorities, it would have required the approval of Beijing’s top dogs.
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