China Evergrande: it is expected to announce the preliminary restructuring plan at the end of July
China Evergrande Hong Kong Stock Exchange announced that it is expected to announce the preliminary restructuring plan at the end of July; The independent investigation on the pledge guarantee of Evergrande property is being actively carried out, and the expected completion time of the independent investigation has not been determined at this stage.
This text is a result of machine translation.
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Real estate has long been the stimulus behind China's rapid economic development. House-buying became an investment as prices soared, thus resulting in overbuild. Evergrande's downfall signals the halt on China's reliance on its real estate sector as the country seeks to regulate and strengthen the economy and its foundation.
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