Sales agents outside the sales office of China Evergrande Grouup at the Billion Plaza II in Lai Chi Kok on April 18, 2020. The developer’s inaugural housing project in Hong Kong’s Tuen Mun area flopped after an initial buzz during its launch. Photo: Xiaomei Chen
Sales agents outside the sales office of China Evergrande Grouup at the Billion Plaza II in Lai Chi Kok on April 18, 2020. The developer’s inaugural housing project in Hong Kong’s Tuen Mun area flopped after an initial buzz during its launch. Photo: Xiaomei Chen

China’s local authorities take a hard look at Evergrande’s projects to ring fence any collapse from hurting their jurisdictions

  • A community in Guangzhou Huangpu district ceases Evergrande’s contract for local shantytown renovation project
  • At least nine provinces demand Evergrande affiliates to transfer project revenue to government-managed bank account to avoid the funds being used for other purposes or businesses

Topic |   Evergrande crisis
Sales agents outside the sales office of China Evergrande Grouup at the Billion Plaza II in Lai Chi Kok on April 18, 2020. The developer’s inaugural housing project in Hong Kong’s Tuen Mun area flopped after an initial buzz during its launch. Photo: Xiaomei Chen
Sales agents outside the sales office of China Evergrande Grouup at the Billion Plaza II in Lai Chi Kok on April 18, 2020. The developer’s inaugural housing project in Hong Kong’s Tuen Mun area flopped after an initial buzz during its launch. Photo: Xiaomei Chen
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