Evergrande's assets are expected to be taken over by state-owned firms in a restructuring led by the Guangdong provincial government, where the developer is based, and the appointment could signal the restructuring is moving forward.
Shares of the developer also drew support from a Friday report by Financial intelligence provider REDD that said the provincial government was aiming to release a framework debt restructuring plan for Evergrande by March.It plans to separate the company's offshore assets and sell them to pay off foreign debt, in a boost to foreign lenders' hopes of recouping some funds, the report added.
The developer said on Sunday it would appoint two new board members, including non-executive director Liang Senlin, chairman of China Cinda Holdings Company Limited, a unit of one of the country's four biggest state asset managers. Evergrande set up a risk management committee last month mostly comprising senior officials from state entities including China Cinda Asset Management.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
CasperLabs to become blockchain of choice for the city of Fuzhou, ChinaGet your Pokeball and capture your favorite blockchain. CasperLabs was the blockchain that the city of Fuzhou picked to use in its public and private crypto infrastructure developments in the region. does anyone know how it works? CryptoIslandInc is building a platform for the community! The Crypto Island DAO is designed to provide CISLA members the ability to vote on all of Crypto Island's undertakings. CryptoIsland IslanderElites Cisla1000x Crypto ETH BSCGem BTC CryptoislandDAO BSC ETH It’s time to turn our shilling into super positive comments about how amazing VEMP is, how we are at an amazing buying level, the next big thing and stuff like that Super positive comments $VEMP next billion dollar token 🚀
Source: Cointelegraph - 🏆 562. / 51 Read more »
Elon Musk, Tesla business in China, Xinjiang points to dark futureInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. So many of Elon's projects are just dribble. The Hyperloop (Failed), The Boring Company (Failed), Tesla Semi Trucks (Where are they?) Weren't the trucks meant to be delivered in 2019? Self Driving Tesla taxis? We need a coherent national policy across Administrations that forces Demented Dons and Demented Joes plus their cohorts and Parties to place American strategy, Allie’s, and ethics ahead of microeconomic gains.
Source: BusinessInsider - 🏆 729. / 51 Read more »
EV Makers’ Next Headache: Scarce Battery Chemicals, Made in ChinaHeard on the Street: The lithium used to make batteries for EVs is getting dear; but that is only the leading edge of the supply-chain problem Heard on what street? Abbey Road? MINE THE OCEAN JUST OFF THE CALIFORNIA OR MDW YORK COAST depending on another country for our transportation fuel is a long-standing idea that has worked out really well for us
Source: WSJ - 🏆 98. / 63 Read more »
Olympics China warns of air pollution risk during Beijing Winter GamesChinese authorities will take action against polluters to ensure next month's Winter Olympics will be held in a 'good environment', an environment ministry spokesman said on Monday, as particularly heavy smog shrouded the capital, Beijing. Lol
Source: ReutersScience - 🏆 559. / 51 Read more »
China SUV Leader Great Wall’s Profit Gained 26% In 2021 Amid Auto Industry UpheavalChina SUV Leader Great Wall’s Profit Gained 26% In 2021 Amid Auto Industry Upheaval: I have been seeing post everywhere. and a lot of people keep saying reach him and eventually it turned out to be legit platform, I invested $500 and received $4750 within 6 days trade with MichaelWeldon_
Source: Forbes - 🏆 394. / 53 Read more »
Ice hockey-Fans lose but China boosted by NHL Beijing pull outFans may be disappointed by the National Hockey League pulling out of the Olympics but the decision was no doubt welcomed by Chinese officials who were braced for humiliating thrashings by their sporting and geo-political rivals.
Source: Reuters - 🏆 2. / 97 Read more »