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No bids were received for Fengtao’s ‘other account receivables’ at the end of the 24-hour deadline on Friday morning, according to auction platform Jingdong Paimai.
China unveiled new support measures to help stem the fallout from the liquidation of developer Evergrande
The liquidation order could be difficult to implement as most of Evergrande’s assets are not in the three mainland Chinese cities covered under a cross-border scheme, according to S&P Global Ratings.
Evergrande has defaulted since 2021, and its lenders, suppliers, and shareholders have already experienced significant losses. The company's share price has plummeted by 99 percent from its peak