China Evergrande Group (3333.HK) has raised fresh warnings of default risks, as it scrambles to raise funds to pay lenders and suppliers with regulators and financial markets worried that any crisis could ripple through China's banking system and trigger social unrest.
Growth in China's home prices is expected to slow more than initially expected this year, as more cities implement curbs to stabilise their real estate markets and banks maintain tight credit quotas for developers, a Reuters poll showed.
The government of Guangdong province is seeking feedback from major banks of debt-laden property developer China Evergrande Group (3333.HK) about forming a creditor committee, as the company warned of a further plunge in profits, according to a news report on Thursday.