Skip to content

China Can ‘Contain’ Risks; Yields May Fall: Evergrande Update

Video player cover image
WATCH: PBOC Governor Yi says authorities can contain risks from the struggles of indebted property developer Evergrande. Kathleen Hays reports.(Source: Bloomberg)
Updated on

Risks posed to the Chinese economy by China Evergrande Group’s debt crisis can be contained, according to the central bank, which has stepped up its commentary amid further evidence of economic headwinds stemming from the fallout. 

The property firm’s trouble “casts a little bit of concern,” People’s Bank of China Governor Yi Gang said at a virtual meeting of the Group of 30 on Sunday. “Overall, we can contain the Evergrande risk.” His comments came after the central bank last week broke its silence on the crisis, saying risks were controllable and unlikely to spread.