中国前顶尖开发商范克(Vanke)面临债券崩溃和债务危机,因为资金不断减少,而且没有明确的再融资途径。 Vanke, China’s former top developer, faces bond collapse and debt crisis amid dwindling funds and no clear path to refinancing.

中国前最大开发商范克(Vanke)面临严重的金融压力,因为其债券跌到创纪录的低点,这反映了投资者对其偿还即将到期债务的能力的担忧。 Vanke, China’s former largest developer, faces severe financial strain as its bonds plunge to record lows, reflecting investor fears over its ability to repay upcoming debt. 到2026年年中,共有134亿元的岸上债券到期,国家支持的股东深圳地铁集团(深圳地铁集团)获得新贷款的机会有限,这家公司为重新融资而挣扎。 With 13.4 billion yuan in onshore bonds maturing by mid-2026 and limited access to new loans from its state-backed shareholder, Shenzhen Metro Group, the company struggles to refinance. 12月的两个主要债券到期日要求90%的债权人批准任何延期——可能无法实现。 Two major bond maturities in December require 90% creditor approval for any extension—likely unattainable. 尽管政府努力稳定住房市场,包括潜在的按揭补贴,但新的房屋销售量继续下降,监管者正在加紧审查房地产公司的债券披露情况。 Despite government efforts to stabilize the housing market, including potential mortgage subsidies, new home sales continue to fall, and regulators are intensifying scrutiny of real estate firms’ bond disclosures. 危机凸显了在振兴中国艰难的房地产部门方面持续存在的挑战。 The crisis highlights ongoing challenges in reviving China’s struggling property sector.