News Analysis While Vanke, a major Chinese real estate development company, set its target on fighting to survive in 2022, another real estate giant Evergrande was on the verge of a liquidity crisis. In the past years, changing policies and the “making-big” ambition of China’s Communist government have tipped the country’s real estate sector into a life-or-death situation because it is overloaded with debts. Vanke announced that in January it had contracted sales of 35.60 billion yuan ($5.62 billion), a sharp drop of 50.2 percent from last January and the lowest ever single-month sales report, surpassing March 2020, when the Covid epidemic markedly reduced sales. Vanke is one of the largest property developers in China with 130,000 employees, and ranked second behind Country Garden in the January-November 2021 sales performance, according to data by China Index Academy. Speaking at an internal meeting on Feb. 9, Yu Liang, chairman of Vanke’s …
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