BEIJING, Nov 2 (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.
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($1=7.1230 Chinese yuan renminbi)
Reporting by Beijing newsroom; Editing by Clarence Fernandez
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