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Home / South China Morning Post / China Vanke tells staff to cut spending on travel, gifts as even the most financially stable developers face up to property sector gloom

China Vanke tells staff to cut spending on travel, gifts as even the most financially stable developers face up to property sector gloom

Summary:
[unable to retrieve full-text content]China’s biggest property developers – even those not in the grip of a debt crisis – are pulling out all the stops to cut costs as the industry faces a gloomy outlook.China Vanke, the country’s third-biggest home seller by sales, told its staff to “live frugally, spend small money and do big things” at a meeting on Tuesday, according to an internal document seen by the Post.Likening the circumstances to a “war time” mentality, the company asked employees to book cheap tickets and hotels when…

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[unable to retrieve full-text content]
China’s biggest property developers – even those not in the grip of a debt crisis – are pulling out all the stops to cut costs as the industry faces a gloomy outlook.China Vanke, the country’s third-biggest home seller by sales, told its staff to “live frugally, spend small money and do big things” at a meeting on Tuesday, according to an internal document seen by the Post.Likening the circumstances to a “war time” mentality, the company asked employees to book cheap tickets and hotels when…

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