China Vanke's stock surged 6.95% during the intraday session on Thursday, as the real estate developer secured crucial breathing room in its debt restructuring efforts.

The rally comes after the company won approval from bondholders to delay full repayment on three domestic bonds by one year. In exchange, Vanke is set to make partial payments totaling $417 million this week, marking its largest payout since initially seeking delays late last year.

This arrangement provides the company with valuable time ahead of its next significant note maturity in late April, easing immediate liquidity pressures and signaling progress in the broader debt resolution process for leading Chinese property developers.