A peeling logo of the Evergrande Oasis, a housing complex developed by Evergrande Group, is pictured outside the construction site where the residential buildings stand unfinished, in Luoyang, China on Sept 16, 2021. - Reuters
BEIJING (Reuters): Cash-strapped developer China Evergrande Group has begun repaying investors in its wealth management products with real estate, a unit of its main Hengda Real Estate Group Co Ltd unit said.
Evergrande, with over US$300 billion in liabilities, is in the throes of a liquidity crisis that has left it racing to raise funds to pay its many lenders and suppliers. It has a bond interest payment of $83.5 million due on Thursday (Sept 23).
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