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.