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China Fortune Land Development: The move is part of a debt restructuring plan unveiled in October 2021 with the debt-ridden developer seeking various ways to ease a liquidity crunch.
China Fortune Land
Development Co will set up a trust fund worth about
25.5 billion yuan and use the proceeds to pay
off its $3.33 billion financial debts, it said on Friday. The move.
(Bloomberg) Ping An Insurance (Group) Co. doesn’t hold any shares in Country Garden Holdings Co. and has no plans to acquire the distressed Chinese developer, the company disclosed in a Shanghai Stock Exchange filing on Wednesday. Most Read from BloombergRockstar Plans to Announce Much Anticipated ‘Grand Theft Auto VI’Trump's Wealth Has Jumped $500 Million Since He Left the White HouseXi to Meet US Business Leaders for Dinner in San FranciscoVirginia Democrats Fend Off Republican Sweep in Win