China’s leading property company again in financial trouble: debt of US$ 328 billion

Trading of shares in Chinese property giant Evergrande and its two subsidiaries was suspended in Hong Kong on Thursday. A market statement on the Hong Kong Stock Exchange did not explain why trading in Evergrande Group’s securities and share certificates of Evergrande Property Services Group and Evergrande Electric Vehicle Group was halted. However, the suspension came after Bloomberg News reported that Evergrande’s Hui Ka Yan, also known as Xu Jiayin, was being held by police under “residential…
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