The real estate company is apparently facing new payment difficulties.
(Photo: Reuters)
Beijing The heavily indebted Chinese real estate giant Evergrande has warned of possible payment difficulties. After a review of the financial resources, no guarantee can be given that the group will have sufficient funds to meet its financial obligations, the company said on Friday evening.
The government of the Chinese province of Guangdong, where Evergrande has its headquarters, also announced on Friday that it had sent a working group to the group to “reduce risks and protect the interests of all parties involved”. Xu Jiayin, the head of Evergrande, was asked to speak to the authorities.
China’s stock exchange regulator tried to allay fears of a spreading crisis. The effects of the events at Evergrande are controllable, according to a statement from the authority.