The Chinese real estate developer Vanke Co., Ltd. failed to repay approximately 2 billion yuan (around $283.56 million) of onshore bonds due on December 15, 2025. After bondholders rejected its request to delay payment, the company entered a five-business-day grace period, during which it must make the payment or reach a new agreement with lenders. If neither occurs by the end of the grace period, Vanke will be considered in default on this debt. Read more here: https://www.reuters.com/world/asia-pacific/china-vanke-fails-win-approval-delay-284-million-bond-payment-2025-12-15/. This market will resolve to “Yes” if Vanke defaults on this debt by the listed date, 11:59 PM ET. Otherwise, this market will resolve to “No.” The primary resolution source will be official disclosures from Vanke Co., Ltd.; however, a consensus of credible reporting may also be used.