-- China Vanke Co., one of the nation’s few real estate giants that’s yet to default, has gotten a fresh loan, pushing recent bank borrowings over $1 billion as it shores up its finances.Jamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’The Shenzhen-based company has obtained a 1.2 billion yuan loan from Bank of China’s branch in the city, according to an exchange filing on Monday. The funds will be used for a development project in Changzhou, it said.
Vanke went under close investor scrutiny earlier this year after concerns about its private debt maturities sparked a series of bond selloffs. Investors’ outlook on China’s property sector also has recently brightened after the government laid out the latest rescue package, featuring 300 billion yuan of central bank funding to help government-backed firms buy excess inventory from developers.Vanke could get “an outsized liquidity boost” from the government’s measure, according to a note from Bloomberg Intelligence analyst Kristy Hung Monday.
Long term investing can be life changing when you buy and hold the truly great businesses. And we've seen some truly... -- China’s bullion imports slowed last month as demand in the world’s biggest consumer begins to buckle in the face of record prices.
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