Vanke Says It’s Addressing Liquidity Pressure, Denies Travel Ban on Executives

(Bloomberg) — China Vanke Co. said it’s making plans to resolve liquidity pressure and short-term operational difficulties and told Wall Street that its executives remain free to travel abroad, seeking to assuage concern about its ability to stave off default.

The cash-strapped developer has made a comprehensive plan to stabilize operations and reduce debt, which could alleviate the pressures, Vanke said after holding an investor event on Sunday. The company said it will prioritize using its own resources to fix the issues.