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Multiple current and former executives of China Evergrande Group and its subsidiaries have been swept up in investigations as authorities look into whether the embattled conglomerate has violated rules over the use of funds, according to sources with knowledge of the matter, reports Caixin. Pan Darong, a previous chief financial officer of the group, has…
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China News: Fresh drama at Chinese property developers, including China Evergrande Group, is threatening President Xi Jinping's efforts to end the housing crisis.
Fresh drama at property developers including China Evergrande Group is jeopardizing President Xi Jinping’s latest efforts to end the housing crisis. Just as China enters a key holiday sales season, a raft of headlines are weighing on already-frail confidence in the property market. Evergrande said it has to revisit its debt restructuring plan and a
'Any setback in the process will negatively affect the still very fragile market sentiment of almost all players in the sector and defeat the policy purpose,' said Zhi Wei Feng.