Skip to content

Evergrande Pledges to Fix Debt After Rare China Rebuke

  • Officials tell developer to not spread ‘untrue’ information
  • Chinese company vows to meet requirements, support market
Evergrande Faces Crisis of Confidence Over $120 Billion Debt
Photographer: Chan Long Hei/Bloomberg
Updated on

China Evergrande Group pledged to fix its debt problems following a rare public rebuke from regulators as the developer struggles to stave off a liquidity crisis.

Evergrande said it will do its best to maintain stable operations, resolve debt risks, and keep stability in housing and financial markets. The People’s Bank of China and the China Banking and Insurance Regulatory Commission earlier told the group to address its debt woes and refrain from spreading “untrue” information.