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Chairman Summoned, Risks Called Under Control: Evergrande Update

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China’s Developers Face $1.3 Billion Bond Payments in December
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China Evergrande Group Chairman Hui Ka Yan was summoned by the Guangdong government after the troubled property developer said it plans to work with creditors on a restructuring plan for its offshore debt.

Provincial authorities will send a working group to urge the company to manage risks, as well as strengthen internal controls and management and ensure normal operations, according to a statement on the government’s website.