China debt crunch

Evergrande sells 4 projects to Chinese state-owned enterprises

Deal settles $1.1bn in liabilities for debt-laden developer

YUSUKE HINATA, Nikkei staff writer
February 26, 2022 05:47 JST

GUANGZHOU -- China Evergrande Group on Friday announced the sale of rights to four development projects to state-backed trust companies, as the cash-strapped company seeks opportunities to bolster its finances.

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