State council think-tank meets developers, banks

Rough spot: A man rides a tricycle past a tower standing near completion at Kaisa Plaza, developed by Kaisa Group, in Beijing. The company has the most offshore debt of any Chinese developer, after Evergrande. ― Bloomberg

SHANGHAI: A think-tank of China’s powerful state council met real estate developers and banks in Shenzhen city, a source with direct knowledge of the meeting told Reuters, amid intensifying worries over a liquidity crisis in the country’s property sector.

Participants at the meeting, which took place on Monday, included China Vanke, Kaisa Group, Ping An Bank, China Citic Bank, China Construction Bank and CR Trust, according to the source.