China Vanke Forecasts $6.2 Billion Loss, Replaces Top Executives
China Vanke, one of China’s largest property developers, said on Monday that its top executives were stepping down and warned of a $6.2 billion loss for 2024, the latest sign that China’s grueling multiyear property downturn has not reached the bottom. In a filing in Hong Kong, Vanke said that its chairman, Yu Liang, would…