China Evergrande says it will revise its restructuring plan

Developer's hearing for U.S. bankruptcy protection in New York postponed

20231020 Evergrande

A residential complex constructed by Chinese property developer Evergrande Group in Nanning, Guangxi Zhuang Autonomous Region, China. © Getty Images

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- Troubled property developer China Evergrande Group announced Friday that it is revising the terms of its proposed restructuring plan.

The decision was made "to meet the company's objective situation and the demand of the creditors," the developer said in a filing to the Hong Kong Exchange made during the midday break.

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