China's major property developer Vanke has recently recorded a new equity-freeze, according to Tianyancha, an app on Chinese companies' recent changes.
Shenzhen Vanke Development Co., Ltd.'s frozen shares were worth 570 million yuan. The freeze period is three years, and the enforcing court is the Dongguan Intermediate People’s Court of Guangdong Province.
Vanke has been struggling with its debts amid the doldrums of China's real estate sector.
(Note: 1 U.S. dollar equals 7.06 Chinese yuan.)
