SHANGHAI -- Local Chinese authorities have announced they would send a team of risk managers to China Evergrande Group as the troubled property giant said it intended to work with creditors on a plan for restructuring its offshore debt.
Officials from Guangdong Province summoned Evergrande Chairman Hui Ka Yan late Friday. Authorities agreed with debt-laden Evergrande's request to send a working group to the company. The team will reportedly help bolster risk management and internal controls.
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