DALIAN, China -- Cash-strapped developer Dalian Wanda Group, a major Chinese conglomerate and the country's largest shopping mall operator, is selling off core businesses, including its commercial facility management and movie divisions, to avoid bankruptcy.
China debt crunch
China's Dalian Wanda unloads businesses to skirt bankruptcy
Creditors extend repayment on $600m of bonds due in late January
China's Dalian Wanda Group is rushing to sell assets to avoid default. (Photo by Kohei Fujimura)
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