China’s local governments prepare for Evergrande bankruptcy – finances & stock market

Beijing – According to a media report, several Chinese local governments have set up custody accounts for projects of the ailing real estate giant Evergrande that have not yet been completed. This should ensure that the money from property buyers is used to complete construction projects and not for other purposes, such as payments to creditors, reported the financial magazine “Caixin” on Sunday.

See also  Minute by minute: US infectious disease expert alerts Covid-19 cases could increase if ... - El Nuevo Herald

Leave a Comment