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Evergrande Begins Repaying Wealth Product Investors With Property - Cna

by channelnewsasia.com posted 4weeks ago 10 views
People walking in front of the Evergrande headquarters in Shenzhen, China's southern Guangdong province on Sep 15, 2021, as the Chinese property giant said it is facing "unprecedented difficulties" but denied rumours that it is about to go under. (Photo: AFP/Noel Celis) BEIJING: Cash-strapped developer China Evergrande Group has begun repaying investors in its wealth management products with real estate, a unit of its main Hengda Real Estate Group said. Evergrande, with over US$300 billion in liabilities, is in the throes of a liquidity crisis that has left it racing to raise funds to pay its many lenders and suppliers.

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