Real Estate

Chinese regulators meet with developer Evergrande as scrutiny on real estate grows

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A banner promoting the Emerald Bay residential project outside the China Evergrande Centre in the Wan Chai area of Hong Kong, China, on Friday, July 23, 2021.

Lam Yik | Bloomberg | Getty Images

BEIJING — Chinese authorities called for indebted property giant Evergrande to resolve its debt risks during a rare meeting with executives Thursday.

Shares of Hong Kong-listed China Evergrande Group have tumbled more than 60% this year to near four-year lows as investors worried about the developer’s ability to repay its debt. The stock closed 1.6% lower Friday, giving up initial gains.

The People’s Bank of China said Thursday in an online statement that it, along with the China Banking and…



Source cnbc.com

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