China Vanke's CEO, chairman resign amid growing liquidity worries

(Reuters) -Property developer China Vanke said on Monday its chairman Yu Liang and CEO Zhu Jiusheng had resigned, amid concerns over the company's liquidity as it faces several debt maturity deadlines this year. Xin Jie, the chairman of its major state-owned shareholder Shenzhen Metro, will become Vanke's chairman, signalling increased state oversight on expectations that the government would step in to contain non-repayment risks. Yu will remain at the company as executive vice president, while three others from Shenzhen state-owned firms will join in the same role.