Vanke’s move to tighten the purse strings comes amid a real estate slump in China as cash-strapped developers frantically offload assets to stay afloat. Photo: Bloomberg
Vanke’s move to tighten the purse strings comes amid a real estate slump in China as cash-strapped developers frantically offload assets to stay afloat. Photo: Bloomberg

China Vanke tells staff to cut spending on travel, gifts as even the most financially stable developers face up to property sector gloom

  • The country’s third-biggest home seller by sales told its staff to ‘live frugally, spend small money and do big things’ at a meeting on Tuesday
  • Vanke’s move to tighten the purse strings comes amid a real estate slump in China as cash-strapped developers frantically offload assets to stay afloat

Topic |   Evergrande crisis
Vanke’s move to tighten the purse strings comes amid a real estate slump in China as cash-strapped developers frantically offload assets to stay afloat. Photo: Bloomberg
Vanke’s move to tighten the purse strings comes amid a real estate slump in China as cash-strapped developers frantically offload assets to stay afloat. Photo: Bloomberg
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