China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

Vanke employees, in masks and holding banners protest in Shenzhen yesterday. Photo: SCMP Pictures

New twist in battle to control China Vanke

The high-stakes battle for control of China Vanke took another strange turn Thursday, with the largest and second-largest shareholders offering different views on the boardroom tussle but conceding that the company was direly in need of stable management.