main lenders has made provisions for losses on a portion of its loans to the embattled property developer, while some creditors are planning to give it more time to repay, four bank executives told Reuters.
Last year, Evergrande reported total bank and other borrowings of 693.4 billion yuan - including loans granted by trust firms rather than banks, which analysts said accounted for the bigger portion - down from 782.3 billion yuan in 2019. The company's bank exposure is wide and a leaked 2020 document, written off as a fabrication by Evergrande but taken seriously by analysts, showed liabilities extending to more than 128 banks and over 121 non-banking institutions.
The editor-in-chief of the Chinese Communist Party-backed tabloid the Global Times on Friday warned Evergrande that it should not bet on a government bailout on the assumption it is "too big to fail".Chinese regulators have in the past reined in domestic banks' unbridled lending to property companies, reiterated the need to curb property speculation, and emphasized the importance of deleveraging in the property sector.
only Chinese Government do not trust their vaccines. because if they do, they'd let their vaccinated foreign students back. takeUsBackToChina SpokespersonCHN MFA_China cnnbrk CNN BBCWorld BBCBreaking WHO COVID19 Breakingviews China
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