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China debt crunch

China Evergrande names official from bad debt firm to board

State-owned Cinda looks set to play major role in property group's restructure

China Evergrande Group is the world's most indebted property developer, with more than $300 billion in liabilities.   © Reuters

SHANGHAI -- China Evergrande Group has named an executive at a state-owned manager of bad debt to a spot on its board of directors.

Evergrande appointed Liang Senlin of China Cinda Asset Management as a non-executive director, a stock exchange filing Sunday shows. Liang serves as chairman of Cinda's Hong Kong unit.

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