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Story summary
- China Vanke Co. posted a record 89 billion yuan loss for 2025.
- China’s property market has been in a downward spiral for five years.
- Households in financial distress are forced to sell properties as values keep falling.
- Developers with massive speculative debt are on the brink of collapse.
- China Evergrande Group was delisted from the Hong Kong stock exchange in August 2025, rendering its shares worthless.
