Your Evening Briefing: China Lays Down the Law for Evergrande
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Apartment buildings at China Evergrande Group’s Life in Venice real estate and tourism development in Qidong, China. Evergrande has been sliding this week, fueling concerns about broader contagion.
Photographer: Qilai Shen/BloombergChina’s financial regulators laid down the law for Evergrande Group. They told the struggling developer to do whatever it takes to avoid a near-term default on dollar bonds. Beijing also said the company should focus on completing unfinished properties and repaying individual investors. There’s no indication regulators offered any financial support for the bond payment, however. —David E. Rovella
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