Former Vanke Chairman May Be Under Scrutiny
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Yu Liang. Photo: VCG
Former China Vanke Co. Ltd. (000002.SZ) Chairman Yu Liang may have been taken away by authorities to assist with inquiries, according to Vanke employees.
Yu, 60, formally retired and resigned from all posts at the embattled property developer on Jan. 8. He was last seen active on WeChat that evening and has had no visible activity on the platform since Jan. 9.
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- Former Vanke Chairman Yu Liang, who retired in January 2025, is reportedly under investigation by authorities amid internal company turmoil.
- Vanke faces financial distress, with its employee co-investment program missing about 4 billion yuan ($575 million) in payouts across 190 projects.
- In early 2025, Shenzhen authorities intervened to rescue Vanke, replacing Yu with Xin Jie as chairman and ending the professional managers' governance model.
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Who’s Who
- China Vanke Co. Ltd.
- China Vanke Co. Ltd. is an embattled property developer. Its former Chairman, Yu Liang, reportedly retired and resigned from all posts on January 8. These developments occur amidst a prolonged property downturn and liquidity squeeze for the company. In early 2025, the Shenzhen government intervened to coordinate a rescue, altering Vanke's governance model.
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What Happened When
- 1990：
- Yu Liang joined China Vanke Co. Ltd.
- 2017：
- Yu Liang became chairman of China Vanke Co. Ltd.
- Early 2025：
- Shenzhen government stepped in to coordinate a rescue of Vanke.
- January 2025：
- Xin Jie replaced Yu Liang as Vanke chairman; Yu was appointed executive vice president and remained a director.
- Mid-2025：
- Vanke’s employee co-investment scheme had cumulatively covered 886 projects by this time.
- After Mid-2025：
- Around 190 projects in Vanke’s co-investment program were in arrears, with unpaid principal totaling around 4 billion yuan.
- Second half of 2025：
- Representatives for nearly 2,000 staff began holding repeated discussions with Vanke and Shenzhen Metro over repayment issues.
- Mid-October 2025：
- Zhu Jiusheng, Vanke’s former president, was subjected to criminal coercive measures.
- January 8, 2026：
- Yu Liang formally retired and resigned from all posts at Vanke.
- Evening of January 8, 2026：
- Yu Liang was last seen active on WeChat.
- Since January 9, 2026：
- Yu Liang has had no visible activity on WeChat.
- By January 19, 2026：
- News that Yu Liang may have been taken away by authorities had circulated internally at Vanke for more than 10 days.
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