Evergrande is still breathing, despite its 260 billion euros in debt.
The Chinese real estate developer on the verge of bankruptcy has found some color on the Hong Kong Stock Exchange on the eve of the Lunar New Year, following the arrival in the cockpit of a seasoned public sector executive.
The entry into the board of directors of the Shenzhen group of Liang Senlin, from one of China's main public asset managers, temporarily reassured the markets, finally seeing it as a sign of Beijing's desire to save the giant in peril, to prevent a perilous domino effect threatening to overtake the whole of the second largest economy on the planet, and by extension global growth.
Read also
“Zero Covid” harms Hong Kong’s reputation
Evergrande will present a rescue plan within six months, the group of bulimic billionaire Xu Jiayin said on January 26, while asking
its creditors for
“more time” .
This discreet takeover of the over-indebted giant, like the new reduction in benchmark rates by the…
This article is for subscribers only.
You have 84% left to discover.
Cultivating your freedom is cultivating your curiosity.
Keep reading your article for 1€ the first month
I ENJOY IT
Already subscribed?
Login
