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China Vanke’s dollar bonds soared by 7-12 points across the curve after the company said that it will repay its debts on time. This comes amid signals of support from local Shenzhen regulator, SASAC. A senior official from the regulator said that it had sufficient confidence in Vanke, adding that if needed, the SASAC had enough tools to support the developer in an “extreme situation”. Vanke also separately said that it “will definitely repay offshore and onshore debt on time” and that the “market doesn’t need to worry about that at all”. The positive news comes at a time when concerns about the sector have hurt dollar bonds of investment grade names like Vanke, Jinmao and others. Also, Vanke’s Q3 results showed RMB 103.7bn ($14.3bn) in cash and cash equivalents, about 2.2x short-term debt. In more recent news, Shenzhen Metro Group Co (SZMC), the largest shareholder of Vanke is said to mull plans of injecting over RMB 10bn ($1.4bn) in the company to bolster its liquidity.