SHANGHAI -- Shares of troubled China Evergrande Group rose on Tuesday, even as the property developer confirmed that it had been ordered to demolish 39 condominium towers and had fallen far short of its 2021 sales target.
China debt crunch
China Evergrande shares rise despite huge sales shortfall
Troubled developer confirms order to demolish 39 towers on Hainan
China Evergrande Group's 160 billion yuan Ocean Flower Island project, seen here in 2018, was to include hotels and theme parks, as well as housing. (Photo by Issaku Harada)
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