BEIJING (Reuters) – China Vanke CEO Zhu Jiusheng was taken away by public security authorities on Wednesday, state media The Economic Observer reported on Thursday, citing sources.
Vanke did not immediately respond to a request for comment.
Onshore bond prices of the troubled property developer have been volatile in the past few weeks over concerns about its ability to make maturity payments this year following a prolonged property market slump.
Vanke in a statement on Thursday said that it will “go all out” to raise funds through operations and financing for the public bond obligations due in 2025.
(This story has been correct to read ‘security,’ not ‘securities,’ in paragraph 1)
(Reporting by Beijing Newsroom; editing by Jason Neely)
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