Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world.
Hong Kong CNN —
Chinese banks are reportedly scrambling to bail out one of the country’s biggest property developers after its credit rating was downgraded to “junk” status by Moody’s on Monday.
Beijing has been struggling to restore confidence in the country’s ailing real estate industry and appeared to be working flat out to prevent China Vanke going the way of Evergrande and Country Garden,
→ Continue reading at CNN - Business News
