Page 28 - Danzhou News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Troubled China Evergrande Group (恆大集團) yesterday said that it would sell its stake in an incomplete development near Shanghai for US$576 million as it scrambles to find cash to pay its mammoth debts. The real-estate giant is drowning in US$300 billion of liabilities, and has struggled to repay bondholders and investors after a clampdown by Beijing suddenly turned off the liquidity taps. Yesterday, the developer said it would sell the Crystal City Project, a vast commercial zone in Hangzhou, an eastern city outside of Shanghai, for 3.66 billion yuan (US$576.4 million). Part of the proce...

While stocks responded strongly to assurances by Beijing, the pledges are still vague and need to be backed up by concrete measures. There are still no clear signs that regulators are lifting restrictions on developers’ access to cash from pre-sold homes, a key source of liquidity.

© Provided by Xinhua HAIKOU, Feb. 26 (Xinhua) -- For the Spring Festival holiday, Wu Shaoyu managed to sell 230,000 yuan (36,400 U.S. dollars) of hand-

© Provided by Xinhua HAIKOU, Feb. 26 (Xinhua) -- For the Spring Festival holiday, Wu Shaoyu managed to sell 230,000 yuan (36,400 U.S. dollars) of hand-

© Provided by Xinhua HAIKOU, Feb. 26 (Xinhua) -- For the Spring Festival holiday, Wu Shaoyu managed to sell 230,000 yuan (36,400 U.S. dollars) of hand-