The article, which did not directly name China Evergrande, said property companies were facing debt default issues due to poor management and a failure to adjust their operations to market changes.
SHANGHAI: The spillover effect of Chinese real estate companies’ debt default risks to the financial industry is generally controllable, state media said yesterday, as concerns continue to loom over China Evergrande Group.
The comment was published in a Xinhua question and answer piece on the Chinese economy, for which the news agency said it had interviewed “relevant departments” and “authoritative people”.
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