Shanghai-based developer, facing 61.86 billion yuan (US$8.5 billion) in debts, says it needs more time to consider restructuring plan amid slumping sales and slow asset disposal as the property market crisis grinds on.
Ping An Trust, a
subsidiary of China s Ping An Insurance,
said it has failed to repay a trust product on time due to the
overall downturn in the property market. It delayed repayment of.
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