Vanke () is a large residential real estate developer in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

. It is engaged in developing, managing and selling properties across more than 60 mainland Chinese cities in the

Pearl River Delta The Pearl River Delta Metropolitan Region is the low-lying area surrounding the Pearl River estuary, where the Pearl River flows into the South China Sea. Referred to as the Guangdong–Hong Kong–Macao Greater Bay Area in official documents, ...

Yangtze River Delta The Yangtze Delta or Yangtze River Delta (YRD), once known as the Shanghai Economic Zone, is a megalopolis generally comprising the Wu-speaking areas of Shanghai, southern Jiangsu, northern Zhejiang, southern Anhui. The area lies in the he ...

and Bohai-Rim Region, with the provision of investment, trading,

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services and

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. It also has expanded into Hong Kong, the United States, the United Kingdom, and Malaysia since 2012. Its largest shareholder is

Shenzhen Metro The Shenzhen Metro ( zh, s=深圳地铁, c=, labels=no) is the rapid transit system for the city of Shenzhen in Guangdong province, China. The newest lines and extensions which opened on December 27, 2024 put the network at of trackage. It cu ...

. It is headquartered in Vanke Center () in

Dameisha Dameisha Beach () is one of the largest beaches in Shenzhen, China. It is located on the northern shore of Mirs Bay along the Yantian District coastline and was opened to public in 1999. A Sheraton resort is located next to the beach. Economy ...

Yantian District Yantian District () is one of the nine districts of the city of Shenzhen, Guangdong, China. It is adjacent to Shenzhen River and Hong Kong to the south, and is surrounded by Luohu, Longgang and Pingshan districts of Shenzhen. Before 1960s, t ...

Shenzhen Shenzhen is a prefecture-level city in the province of Guangdong, China. A Special economic zones of China, special economic zone, it is located on the east bank of the Pearl River (China), Pearl River estuary on the central coast of Guangdong ...

Guangdong ) means "wide" or "vast", and has been associated with the region since the creation of Guang Prefecture in AD 226. The name "''Guang''" ultimately came from Guangxin ( zh, labels=no, first=t, t= , s=广信), an outpost established in Han dynasty ...

province.

History

Vanke was founded by Wang Shi in 1988. Vanke was listed on the

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

in 1991, the second

listed company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

in the Shenzhen Stock Exchange after

Shenzhen Development Bank Shenzhen Development Bank Co., Ltd. was a bank based in Shenzhen, Guangdong ) means "wide" or "vast", and has been associated with the region since the creation of Guang Prefecture in AD 226. The name "''Guang''" ultimately came from Guangxin ...

. It had the largest

market capitalisation Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...

in 2006 on the Shenzhen Stock Exchange. As of 2020, Vanke was ranked 208th in the

Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by '' Fortune'' magazine. Methodology Until 1989, it listed o ...

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reported the company having US$53.253 billion in revenue, US$248.360 billion worth of assets, and 131,505 employees that year. Vanke was also ranked 96th in the

Forbes Global 2000 The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by: sales, profit, assets and market value. The list has been published annually since 2003. By country Forbes Global 2000 as of 2023: ...

in 2020. As of 21 February 2019 its market cap was US$44 billion.

Financial struggle

In March 2024,

Moody's Ratings Moody's Ratings, previously and still legally known as Moody's Investors Service and often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its histori ...

downgraded Vanke's credit rating score to Ba1, citing "substantial credit risk" in the company. Since the beginning of 2025, the company has been dealing with a huge amount of debt due amid a struggling property market. It has around 4.9 billion USD in bonds maturing in 2025, half of its public debt.

Chinese government intervention

China state media the Economic Observer reported that Vanke's CEO Zhu Jiusheng was detained by public security authorities on January 15, 2025. Officials in Shenzhen held a closed meeting on January 17, 2025 to discuss Vanke, which is based in the city. The local government has significant control over Vanke due to its largest shareholder being a state firm. The Shenzhen government intended to stabilize Vanke's operations. They planned to introduce new auditors and financial advisers to evaluate Vanke’s finances and property projects for future actions.

References

Companies in the CSI 100 Index Companies in the FTSE China A50 Index Real estate companies of China Companies based in Shenzhen Shenzhen Metro Companies listed on the Hong Kong Stock Exchange Companies listed on the Shenzhen Stock Exchange Real estate companies established in 1984 Chinese companies established in 1984 Chinese brands 1984 in Shenzhen {{China-company-stub

History

Financial struggle

Chinese government intervention

See also

References