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Evergrande debt woes are 'manageable', says People's Bank of China

Chinese authorities are urging Evergrande to step up asset disposals and the resumption of projects, Zou Lan, head of financial markets at the People's Bank of China (PBoC), told a briefing

Evergrande Group’s CEO  Xia Haijun is holding talks in Hong Kong with investment banks and creditors over a possible restructuring and asset sales
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Evergrande Group’s CEO Xia Haijun is holding talks in Hong Kong with investment banks and creditors over a possible restructuring and asset sales

Andrew Galbraith | Reuters Shanghai
The spillover effect of China Evergrande Group's debt problems on the banking system is controllable, a central bank official said on Friday, in rare official comments on a liquidity crisis at the massive developer that has roiled global markets.
 
Chinese authorities are urging Evergrande to step up asset disposals and the resumption of projects, Zou Lan, head of financial markets at the People's Bank of China (PBoC), told a briefing, adding that individual financial institutions did not have highly concentrated exposure to Evergrande.
 
“In recent years, this company did not operate and manage itself well. It failed to

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First Published: Oct 16 2021 | 2:09 AM IST

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