The local bodies sent a letter of demand for Evergrande Automotive Holdings to terminate a series of investment cooperation agreements made between the parties since April 29, 2019, the electric vehicle (EV) unit of China Evergrande said in a statement. "The above demands of the letter, if ultimately implemented, could have a material adverse impact on the financial position and operations of the Company or each of the relevant subsidiaries."
Seized Hong Kong Peak mansion linked to China Evergrande founder Hui Ka-yan sells at 40% discount for US$58 million scmp.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scmp.com Daily Mail and Mail on Sunday newspapers.
By allowing local governments and state-owned enterprises to buy unsold land and housing from distressed developers, China is betting a property slump weighing down the economy can be stopped once and for all.
China offers to buy up commercial housing to boost property market jordantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jordantimes.com Daily Mail and Mail on Sunday newspapers.