Rating agencies Fitch and S&P Global downgraded property developer China Vanke on Monday, as the company sinks further into a liquidity crunch within a struggling property sector in China. Both rating agencies slashed Vanke's ratings by two notches to 'B-' from 'B+',

Chinese officials are taking steps to stabilize operations at China Vanke Co. after deepening liquidity stress and questions surrounding the whereabouts of its top executive triggered turmoil for its bonds and shares last week,

The head of one of China's biggest property firms has been "taken away" by police, state-backed media reported Thursday, as a prolonged housing slump continues to hit the world's second-largest economy.