SHANGHAI/HONG KONG -- The decision by China's securities watchdog to punish debt-laden property developer China Evergrande Group for allegedly inflating earnings suggests that officials are taking a harder line on troubled companies.
China debt crunch
China Evergrande fine suggests no more Mr. Nice Guy from Beijing
Watchdog slaps $580m penalty on core unit for inflating revenue
Evergrande housing under construction in Wuhan, China. The developer has been accused of counting incomplete projects as revenue. (Photo by Noriyuki Doi)
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