HONG KONG: Cash-strapped China Vanke said its major shareholder, state-owned Shenzhen Metro, is giving it a 2.8 billion yuan (US$383.12 million) loan, in a sign the government is stepping up efforts to stabilise the property developer. Vanke, in return, will pledge 211.5 million shares, or 18.3 per cent, of its listed property services unit, Onewo, as collateral, the company said in a filing late on Monday. The loan is the first liquidity support from Shenzhen Metro after a senior management reshuffle in Vanke last month that increased state oversight and intervention to contain any non-repayment risks. Vanke's bonds jumped on Tuesday after the loan announcement, with the offshore bond due May 2025 bid at 97.111 cents on the dollar in morning trade, up from 94.8 cents a day ago, while its yuan bond due March 2027 rallied 13.5 per cent.