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"Businesses that are good at telling stories and boast often expand and stretch without bound in China," Chen told Insider, adding that this was due to a lack of discipline that investors and lenders impose on those who manage their funds.Chen cited HNA Group, Anbang, Alibaba, DiDi, and Bytedance as examples of other Chinese companies that tend to overstate their capabilities.
Both analysts said Evergrande will likely look to sell its auto business in the future, but will probably have difficulty doing so because its investment has not been profitable.
Source: Energy Industry News (energyindustrynews.net)
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