Construction and real estate companies in China had to negotiate with their creditors to ease the liquidity crunch that threatened bankruptcy. The activity in the real estate market in China continues.
The construction company named Shimao put all its construction projects up for sale. The news that Shimao put all of his projects up for sale took place in the country's press.
DECISION DAY FOR EVERGRANDE
Evergrande Group, the world's most indebted real estate development company, has met with its creditors to delay payments of 4.5 billion yuan ($157 million) in debt and bond coupon payments for six months. The results of the meeting are expected to be announced in the coming hours.
The Chinese state will take a new step to alleviate the liquidity crisis in the industry, making it easier for public-owned real estate and construction companies to buy assets from private companies in distress.
In Caixin's news published over the weekend, it was stated that Shimao Group Holdings, which went into default due to a loan debt last week, put all its real estate projects, including both residential and commercial assets, up for sale.
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