12-11-2023, 07:22 PM
Evergrande acknowledged a request for comment, but did not respond further.
Meanwhile, financial regulators in Shenzhen are now investigating Evergrande's wealth management unit, according to a Reuters report that cites a letter sent to investors. But a person who picked up a call at the city's financial regulation bureau this afternoon said she isn't aware of the matter, and she didn’t know which government department will deal with the Evergrande problem. "We are waiting for further notice," she said.
Evergrande’s potential collapse is reverberating throughout the global financial market.
Investors are not only exiting Evergrande but also dumping property-related shares in Hong Kong as they worry about contagion, especially for an economy that depends on real estate for at least a quarter of GDP.
Meanwhile, financial regulators in Shenzhen are now investigating Evergrande's wealth management unit, according to a Reuters report that cites a letter sent to investors. But a person who picked up a call at the city's financial regulation bureau this afternoon said she isn't aware of the matter, and she didn’t know which government department will deal with the Evergrande problem. "We are waiting for further notice," she said.
Evergrande’s potential collapse is reverberating throughout the global financial market.
Investors are not only exiting Evergrande but also dumping property-related shares in Hong Kong as they worry about contagion, especially for an economy that depends on real estate for at least a quarter of GDP.