Wednesday 20 October 2021
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scmp - 6 days ago

Evergrande crisis: Beijing not likely to let developer collapse even as it gets tough, analysts say

Beijing will not likely allow property giant China Evergrande Group to collapse as the government devises a way to get tough on the company without inducing sectorwide turmoil, market analysts said at a conference on Wednesday.Evergrande, saddled with more than US$300 billion in debt, has missed three rounds of interest payments in three weeks and will default on its debt if it fails to pay the combined US$119 million in interest before October 23.Evergrande crisis weighs on China’s credit…


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