China’s central bank has said poor management has led to the crisis facing Evergrande Group. Photo: EPA-EFE. Photo: DPA
China’s central bank has said poor management has led to the crisis facing Evergrande Group. Photo: EPA-EFE. Photo: DPA

China Evergrande crisis caused by ‘poor management’, but an exception in healthy property market, central bank says

  • China’s central bank says property developer Evergrande Group failed to act judiciously in the face of changing market conditions
  • But it stressed China’s property sector is healthy overall and any ‘spillover to the financial industry is controllable’

China’s central bank has said poor management has led to the crisis facing Evergrande Group. Photo: EPA-EFE. Photo: DPA
China’s central bank has said poor management has led to the crisis facing Evergrande Group. Photo: EPA-EFE. Photo: DPA
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