Rights of Evergrande shareholders, creditors to be respected, says China central bank chief
Reuters
Published Dec 09, 2021 01:47AM ET
HONG KONG (Reuters) - The rights of shareholders and creditors of cash-strapped property developer China Evergrande Group 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.
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Written By: Reuters
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