HONG KONG -- Chinese authorities have demanded that the electric vehicle unit of embattled property developer China Evergrande Group repay 1.9 billion yuan ($262 million) in subsidies, dealing a fresh blow to its stock.
China debt crunch
Evergrande EV unit's shares fall on order to repay over $260m in subsidies
Tianjin factory told to suspend production, sales of new cars as pressure builds
China Evergrande New Energy Vehicle Group's factory in Tianjin, which has been hit with a suspension order. © Reuters
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