After numerous measures to resolve a liquidity crisis in the property market in recent years, Beijing is expected to end up dusting off an old playbook and step in directly to stabilise a state-backed developer seen as a bellwether for the sector.

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.

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+',

S&P Global Ratings Downgrades CHINA VANKE by 2 Notches to 'B-', Places Ratings on CreditWatch Negative