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China property rescue? Who are Ping An Insurance Group and Country Garden?

HONG KONG Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, Reuters reported on Wednesday (Nov 8), citing sources familiar with the plan. A state-engineered rescue of Country Garden by Ping An would be one of the most significant interventions to date by China to.

Factbox-China property rescue: Who are Ping An Insurance Group and Country Garden?

Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, Reuters reported on Wednesday, citing sources familiar with the plan. A state-engineered rescue of Country Garden by Ping An would be one of the most significant interventions to date by China to support its cash-squeezed, highly indebted property sector, which accounts for one-quarter of economic activity. Ping An, based in the southern tech hub of Shenzhen, vies with China Life for the title of the country's biggest insurance group by market value.

China property rescue: Who are Ping An Insurance Group and Country Garden? -November 08, 2023 at 04:07 am EST

Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation s biggest private property developer, Reuters reported on Wednesday, citing.

RIO TINTO : Credit Suisse keeps its Buy rating

Alex Ren from Credit Suisse retains his positive opinion on the stock with a Buy rating. The target price is lowered from GBX 7400 to GBX 6800.

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