Protesters target Chinese property firmEVERGRANDE WOES: The Chinese company issued a statement to the Hong Kong stock exchange, saying it was exploring ’all feasible solutions’ for a cash crunchAFP, BEIJINGDozens of people yesterday protested outside the headquarters of Chinese property giant Evergrande Group (恆大集團) after the debt-laden firm said that it was under “tremendous pressure” and might not be able to meet its repayments. Photo: AFPAn estimated 60 to 70 people gathered outside Evergrande’s headquarters in Shenzhen, China, jostling with police and demanding answers. There’s no clear explanation right now ... they should have paid the money when it was due.”Evergrande’s plight has raised fears of a contagion across the debt-mired Chinese property sector — which accounts for more than one-quarter of the world’s second-largest economy — with a knock-on effect on banks and investors. However, it issued another statement yesterday to the Hong Kong stock exchange, saying it had hired financial advisers to explore “all feasible solutions” to ease its cash crunch. It is also struggling to sell its Hong Kong headquarters, even at a loss.

Source: Taipei Times September 14, 2021 15:56 UTC