Rights of Evergrande shareholders, creditors to be respected, says China cenbank chief

  • 12/9/2021
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The rights of shareholders and creditors of cash-strapped property developer China Evergrande Group (3333.HK) will be "fully respected" based on their legal seniorities, central bank governor Yi Gang said on Thursday. The risk caused by a few Chinese real estate companies in the short term will not undermine Hong Kong"s capital market, he told a financial forum in the Asian financial hub. Evergrande"s missed deadline this week on debt payment has put it at risk of becoming China"s biggest defaulter, with $300 billion in liabilities, even as hopes for a managed debt restructuring calmed fears of a messy collapse. read more Reporting by Alun John; Editing by Sumeet Chatterjee and Clarence Fernandez Our Standards: The Thomson Reuters Trust Principles.

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