Regulators warn Vanke, Baoneng

China's securities and insurance regulators both urged China Vanke Co Ltd's management team and its major shareholder Baoneng Group to resolve the disagreement in an effective and immediate way.

The China Securities Regulatory Commission said on Friday that the battle between the management team of Vanke, China's largest property developer, and Baoneng has drawn public attention, but the two sides have not taken any effective measures to resolve differences and even have intensified the conflict.

"We condemn Vanke's related shareholder and the management team and hope that the two sides will take immediate and effective measures to solve the problem based on laws and regulations," said Deng Ge, a spokesman of the CSRC.