Vanke board to meet on dismissal issue

Giant developer to hear proposal from Baoneng Group to sack all directors

China Vanke Co Ltd, the country's biggest residential developer, said it will hold a board meeting to discuss dismissal issues after its shareholder Baoneng Group called for ousting of all 12 of Vanke's directors, including chairman Wang Shi.

Baoneng's move, the country's most high-profile corporate power struggle, has "put pressure" on the operation of the company, Yu Liang, president of Vanke, said at a shareholder meeting on Monday.