Shenzhen Metro agrees to provide loans of up to $3 billion

A Vanke sign is seen above workers working at the construction site of a residential building in Dalian, Liaoning province, China September 16, 2019. REUTERS/Stringer Purchase Licensing Rights, opens new tab

BEIJING, Nov 2 (Reuters) - China Vanke, a state-backed property developer battling liquidity stress, said on Sunday its largest shareholder, Shenzhen Metro Group, agreed to provide loans of up to 22 billion yuan ($3.09 billion), a stock exchange filing showed.

One of China's best-known household names, with many projects across bigger cities, Vanke is about a third owned by Shenzhen Metro.