Investors are concerned about liquidity woes spreading in China's property sector, with a string of offshore debt defaults, credit rating downgrades and sell-offs in some developers' shares and bonds in recent weeks., which is at the centre of the debt crisis, has rattled global markets as it grapples with liabilities of more than $300 billion, which, if not managed, could pose systemic risks to China's financial system.
The developer said some financial institutions had transferred funds out of its accounts inappropriately and it urged all lawsuits seeking a freeze of its assets to be handled centrally in a Shenzhen court. Other companies attending the meeting were Southern Asset Management and developer Excellence Group, the source added.
The State Council Information Office also did not respond to a request for comment. The source declined to be identified due to the sensitivity of the matter.In a statement on its official WeChat account late on Monday, Kaisa said it was taking measures to solve its liquidity issues and was consulting investors in wealth management products about better payment solutions.Some holders of offshore bonds issued by a unit of Evergrande had not received interest payments due on Nov.
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