Real Estate

Evergrande Unit Says It’s Being Probed by China Watchdog

China Evergrande unit says it received notification from CSRC
China securities regulator has probed many firms on disclosure

WATCH: There seems to be a discrepancy when it comes to data regarding China’s housing market. The picture emerging from property agents and private data providers is far more dire. Charlie Zhu reports.Source: Bloomberg

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By Bloomberg News

August 16, 2023 at 2:03 PM UTC

Updated on

August 17, 2023 at 2:55 AM UTC

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The mainland China unit of giant developer China Evergrande Group said the country’s securities regulator has built a case against it relating to suspected information disclosure violations.

Hengda Real Estate Group said late Wednesday that it received a notification earlier the same day from the China Securities Regulatory Commission. The struggling real estate developer unveiled the news in a Shanghai Stock Exchange filing.