---
title: "\"Major Banks\" JP Morgan: Doubts about the authenticity of the report on Vanke's 80 billion yuan rescue plan"
description: "JP Morgan expressed skepticism regarding the report by Octus about the Shenzhen municipal government's preparation of a RMB 80 billion rescue plan for Vanke, stating that the report is unverified and "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/275691045.md"
published_at: "2026-02-12T02:41:29.000Z"
---

# "Major Banks" JP Morgan: Doubts about the authenticity of the report on Vanke's 80 billion yuan rescue plan

> JP Morgan expressed skepticism regarding the report by Octus about the Shenzhen municipal government's preparation of a RMB 80 billion rescue plan for Vanke, stating that the report is unverified and that historically, similar speculations about funding support have only been confirmed once. The report pointed out that the amount of RMB 80 billion is unclear and could be related to refinancing or credit limits. Although the central government emphasizes the importance of avoiding defaults, JP Morgan questions the necessity of Vanke defaulting and believes the government is not in a hurry to invest another RMB 80 billion. JP Morgan considers an overall bond restructuring to be a more reasonable solution and expects a positive reaction in the stock price in the short term

JP Morgan published a report stating that Octus reported unverified market speculation, indicating that the Shenzhen municipal government is preparing a rescue plan of RMB 80 billion (the same below) for Vanke (02202.HK) (including a RMB 20 billion stock placement) to avoid its default. The bank is skeptical about the authenticity of this report. Firstly, among the previous 9 instances of market speculation regarding financial support, only one was confirmed to be true. Secondly, the amount of RMB 80 billion is also unclear; the report did not specify whether this is new financial support or merely refinancing/credit limits (the two are not significantly different). The report mentioned that the central government emphasized the importance of avoiding default, but the bank questioned why Vanke's default remains important in today's environment (most private developers have already defaulted, and Vanke currently has only a 1% market share).

Although the Shenzhen Metro still has the opportunity to provide further financial support (similar to its recent assistance to Vanke in paying 40% of the principal for bond extensions), the bank believes there is no urgent need for the government to spend RMB 80 billion just to avoid default. Even if support is indeed provided, JP Morgan believes its purpose is more likely to assist Vanke in completing project construction. JP Morgan still considers an overall bond restructuring to be a more reasonable solution. That said, the bank expects the stock price to show a positive reaction in the short term

### Related Stocks

- [000002.CN - Vanke](https://longbridge.com/en/quote/000002.CN.md)
- [515060.CN - ChinaAMC CSI All Share Real Estate ETF](https://longbridge.com/en/quote/515060.CN.md)
- [02202.HK - CHINA VANKE](https://longbridge.com/en/quote/02202.HK.md)
- [159940.CN - GF CSI All Share Financials ETF](https://longbridge.com/en/quote/159940.CN.md)
- [159768.CN - Yinhua CSI Interior Real Estate Theme ETF](https://longbridge.com/en/quote/159768.CN.md)
- [512200.CN - China Southern CSI All Share Real Estate ETF](https://longbridge.com/en/quote/512200.CN.md)
- [159707.CN - Hwabao WP CSI 800 Real Estate ETF](https://longbridge.com/en/quote/159707.CN.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Emlak Konut 表示，已签署关于伊斯坦布尔阿塔谢希尔凯什达吉收入分享项目的协议 | Emlak Konut Gayrimenkul Yatırım Ortaklığı：Emlak Konut - 签署了伊斯坦布尔亚塔谢希尔凯伊斯达吉收益分享项目的协议 EMLAK KONUT - 公司在总收入中的份额为 37 亿里拉 EML | [Link](https://longbridge.com/en/news/276199661.md) |
| 大摩：AI 是资本开支黑洞，风险向信用市场蔓延 | 摩根士丹利指出，AI 正从市场热点转变为信用市场结构性压力源。科技巨头” 烧钱” 竞赛推动 2026 年资本支出预期上调至 7400 亿美元，投资级债券发行料创 2.25 万亿美元新高。与此同时，软件板块遭抛售，压力向杠杆贷款等信用领域传导 | [Link](https://longbridge.com/en/news/276042671.md) |
| Bandwidth｜10-K：2025 财年营收 7.54 亿美元不及预期 |  | [Link](https://longbridge.com/en/news/276333285.md) |
| 避险模式！大摩：市场开始买美债了 | 投资者对 AI“过度投资” 及其负面外部性的担忧加剧，导致 SaaS 及私募信贷相关股票承压。与此同时，美国年收入 10 万美元以上的富裕阶层消费者信心显著恶化，警示经济下行风险。叠加 1 月 CPI 数据意外疲软，资金正从风险资产撤出并涌 | [Link](https://longbridge.com/en/news/276025570.md) |
| 伟世通｜8-K：2025 财年 Q4 营收 9.48 亿美元超过预期 |  | [Link](https://longbridge.com/en/news/276330340.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
