China Vanke chairman Xin Jie resigns amid financial pressure

In a significant move, Xin Jie, the chairman of China Vanke, has resigned due to mounting financial pressures facing the company. This resignation highlights the ongoing challenges in the real estate sector in China, where many firms are grappling with debt and declining sales. Xin's departure raises concerns about the future direction of Vanke, one of the largest property developers in the country, and could signal further instability in the market.