China Vanke told its staff Tuesday they need to raise their "crisis awareness" and cut unnecessary spending akin to being in "wartime," according to a person with direct knowledge. Last week, Evergrande once again averted a destabilizing default with a last-minute bond payment, but the reprieve did little to alleviate strains in the country's wider property sector from a liquidity crunch. Evergrande has new coupon payments totaling more than $255 million due on Dec. 28.