Chinese property group Evergrande says will work toward improving capital flow

Evergrande Group, one of China’s biggest housing companies, said on Tuesday September 14 that it would work toward improving its capital flow to ensure that it does not default on its liabilities.

The assurance came a day after it dismissed rumors that it would file for bankruptcy.
Among the measures, it said that it would revise its schedule of new projects, tighten up its cost controls and promote sales and collection.
Evergrande’s financial troubles - it reportedly has some $300 billion of debt - have led steel market participants to expect a slowdown in the seasonal recovery of demand for construction steel.

Evergrande’s...

Published

Jessica Zong

September 14, 2021

10:00 GMT

Shanghai