BEIJING (Reuters) -China Vanke, a state-backed property developer battling liquidity stress, said on Sunday its largest shareholder, Shenzhen Metro Group, agreed to provide loans of up to 22 billion yuan ($3.09 billion), a stock exchange filing showed.
One of China’s best-known household names, with many projects across bigger cities, Vanke is about a third owned by Shenzhen Metro.
($1=7.1230 Chinese yuan renminbi)
(Reporting by Beijing newsroom; Editing by Clarence Fernandez)
