<div id="readability-page-1">China Vanke, once the country’s largest homebuilder by sales, has narrowly avoided a major financial crisis, raising alarm about the state of China’s struggling property sector. The developer almost defaulted on a 2 billion yuan ($284 million) bond last week, a clear sign that the industry’s slow recovery is still fragile. The company is also seeking to delay repayment of another 3.7 billion yuan ($530 million) of onshore debt due on December...</div>

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<p>China Vanke, the largest homebuilder by sales, narrowly avoided a bond default, raising concerns about the fragile state of China's property sector. The company nearly defaulted on a 2 billion yuan ($284 million) bond and is seeking to delay repayment of an additional 3.7 billion yuan ($530 million) in onshore debt due in December.</p>

China property crisis deepens as Vanke narrowly avoids bond default, shaking investor confidence