China economy: Property crisis could get uglier, state-backed developer raises concerns – Business Insider

China\'s yearslong property crisis could get worse.There are concerns over Vanke after reports the state-backed developer was seeking to extend its debt maturity.If Vanke defaults, it could undermine confidence in all property developers in China.NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in

a personalized feed while you\'re on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time.AdvertisementChina\'s yearslong real-estate debt crisis has already taken down the property giant Evergrande , which is undergoing liquidation.Home sales and prices in the country have also slumped.But China\'s property crisis could still get worse."I think, at the moment, there\'s an assumption in the market that the levels of activity have come down so much that things can\'t get much worse, but that\'s not really true," Charlene Chu, a senior analyst at Autonomous Research, told Bloomberg TV on Monday.This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .