Agile said it will sell its 26.7 per cent stake in a Guangzhou property joint venture for 1.84 billion yuan (US$300 million) to a unit of China Overseas Land & Investment (Coli). Photo: Imaginechina via AFP
Agile said it will sell its 26.7 per cent stake in a Guangzhou property joint venture for 1.84 billion yuan (US$300 million) to a unit of China Overseas Land & Investment (Coli). Photo: Imaginechina via AFP

Agile Group becomes latest debt-ridden Chinese developer to be rescued by state-owned company

  • State-backed companies are bailing out Chinese developers pushed to the edge of ruin by Beijing’s ‘three red lines’ borrowing restrictions
  • Agile will sell its stake in a Guangzhou property joint venture for 1.84 billion yuan to a unit of state-owned China Overseas Land & Investment (Coli)

Agile said it will sell its 26.7 per cent stake in a Guangzhou property joint venture for 1.84 billion yuan (US$300 million) to a unit of China Overseas Land & Investment (Coli). Photo: Imaginechina via AFP
Agile said it will sell its 26.7 per cent stake in a Guangzhou property joint venture for 1.84 billion yuan (US$300 million) to a unit of China Overseas Land & Investment (Coli). Photo: Imaginechina via AFP
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