China Evergrande Group shares will be suspended from trading on Monday, the embattled property developer said without giving a reason.
, is struggling to repay more than $300 billion in liabilities, including nearly $20 billion of international market bonds that were deemed to be in cross-default by ratings firms last month after it missed payments.
The property developer missed new coupon payments worth $255 million due last Tuesday , though both have a 30-day grace period.The firm has set up a risk management committee with many members from state companies, and said it would actively engage with its creditors.in its wealth management products, saying each investor in its wealth management product could expect to receive 8,000 yuan per month as principal payment for three months irrespective of when the investment matures.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China Evergrande reports progress in resuming home deliveriesChina Evergrande Group said on Sunday it had made initial progress in resuming construction work with its chairman vowing to deliver 39,000 units of properties in December, compared with fewer than 10,000 in each of the previous three months.
Read more »
Vietnam urges China to urgently reopen border gates as trade stallsVietnam's trade ministry asked China's Guangxi authorities to take urgent measures to ease congestion at border crossings after China stepped up its border controls with neighbours to follow zero COVID-19 policies, state media reported.
Read more »
An Electric Fiat Multipla Was Once Sold In China By The Now-Bankrupt Zotye | CarscoopsThe quirky MPV was available in both ICE-powered and EV form, with the latter featuring swappable batteries
Read more »
China and Russia Military Cooperation Raises Prospect of New Challenge to American PowerJoint military exercises, coordinated weapons development and technology sharing are seen as tools in a campaign to limit U.S. might abroad, military analysts and U.S. officials say.
Read more »
'The Matrix Resurrections' Crosses $100 Million Worldwide Even Before China ReleaseBut with a budget of $190 million, celebrations will have to wait.
Read more »
China has moon's south pole in its sights with 3 missions launching this decadePlans incorporate landers, orbiters, rovers and even hopping probes.
Read more »