China Evergrande shares fall on persistent pressure from debt travails

China Evergrande Group is reeling under more than $300 billion in liabilities, fuelling worries about the impact of its fate on global markets.

Late on Tuesday, China's National Development and Reform Commission said that it and the State Administration for Foreign Exchange had met with foreign debt issuers, advising them to use funds for approved purposes and "jointly maintain their own reputations and the overall order of the market". Evergrande said on Tuesday it has resumed work on some projects in the Pearl River Delta region and it would deliver 31 real estate projects by the end of 2021. That number will rise to 40 by the end of June 2022.

Many of Evergrande's construction projects across the country have been suspended as it was unable to pay contractors. The developer has some 1,300 real estate projects across China.Our Standards:Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

From incident of tighten Rich Ma to his business, It seems like Chinese communist Leaders going back to their mandate to reduce rich people for any means. as poor people so easy to blackmail & control them. But maybe is too late they're many Chinese millionaires now

IF CHINA LETS EVERGRANDE STAY IN BUSINESS THEY WILL JUST BE DOING WHAT THE WEST DID FOR THE BANKS IN 2008, ITS NOT 'TOO BIG TO FAIL'! TIME TO MAKE A STAND

One day the Chinese communist party will turn this property debt bubble into propaganda and blame western foreign countries and Japanese imperialism for their dumb economic policies 🤣

this is terrible news

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China Evergrande Says Work on Some Residential Projects Has ResumedThe highly indebted developer said construction was progressing at some of its projects in southern China, as it tries to stave off collapse and deliver homes it has promised to more than a million people. Trump must have a hand in this company since everything you touches fails
Source: WSJ - 🏆 98. / 63 Read more »

China coal futures fall for a fourth day as govt intervenesChina's thermal coal futures fell for a fourth day on Monday, extending losses since last week when they cooled from record highs after Beijing said it would intervene to tame prices.
Source: Reuters - 🏆 2. / 97 Read more »

HSBC bucks China property worries with 74% profit jump, $2 bln buybackHSBC Holdings reported a surprise 74% rise in third quarter profit as it shrugged off concerns about pandemic-related bad loans and property problems in its key market of China, allowing it to announce a share buyback of $2 billion.
Source: Reuters - 🏆 2. / 97 Read more »

‘Last Week Tonight With John Oliver’ Mocks John Cena’s “Weird” Apology To ChinaLast Week Tonight With John Oliver tackled the topic of Taiwan on Sunday night which made for the perfect opportunity to mock John Cena. Cena apologized to China in May after stating Taiwan is the … He wasn’t mocking Cena…. He was just saying the fact that John had to apologize was as weird as the fact that Cena speaks such good Mandarin
Source: DEADLINE - 🏆 109. / 63 Read more »

Asian markets mixed as China restricts travel amid COVID spikeAsian stock markets were mixed Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections. thanks
Source: MarketWatch - 🏆 3. / 97 Read more »

There's a chance China might finally put taxes on propertyChina is closer than ever to taxing property owners, now that Chinese President Xi Jinping has the political momentum to get the ball rolling, analysts say. 我很穷，我想国家收不了多少我的税，我有两栋有房和七八块地之前没有被收税过，以后也不会被收税
Source: CNBC - 🏆 12. / 72 Read more »