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China has long been lenient with respect to companies listed on the stock market to protect state-controlled listed entities but the delistings tally is rising as authorities seek to restore investor confidence after a market sell-off. ....
Evergrande Wind-Up Hearing Opens Bumpy Path Toward Liquidation bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
A hearing for China Evergrande Group in a Hong Kong insolvency court later this month will lay bare the once-unthinkable possibility of liquidating the property developer’s assets. A wind-up order from Judge Linda Chan after the October 30 hearing would wreak havoc on the struggling company that’s trying to finalize a restructuring plan to ....
China s leading real estate firms have reported nearly $3 billion in foreign exchange losses for the first half of the year, mainly due to the depreciation of the yuan against the US dollar. This has further complicated their efforts to repay growing debts. The net foreign exchange losses for 24 of the top 30 Chinese developers totaled $2.75 billion. The weak yuan is seen as a result of increased liquidity and is adding to the financial burden for companies highly exposed to dollar debts. ....