Local authorities in mainland China are taking a hard look at the property projects undertaken by China Evergrande Group, as they ring fence their jurisdictions and communities from a possible collapse in the world’s most indebted developer with US$300 billion of liabilities.At the Yunpu Street area in the Guangdong provincial capital of Guangzhou, where the property magnate Hui Ka-yan first founded Evergrande in 1996, the Canglian community banned the developer from taking part in the…
Source : South China Morning Post
Read more…China’s local authorities take a hard look at Evergrande’s projects to ring fence any collapse from hurting their jurisdictions
