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

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

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

China’s central bank for the first time on Friday lambasted property giant Evergrande Group for its “poor management”, while saying the potential spillover effects to the financial system from a collapse of the developer are controllable.The comments from Zhou Lan, head of the financial department at the People’s Bank of China (PBOC), come amid heightened market concern about worsening debt problems in China’s property market, which has for decades been a main engine of growth in the world’s No…

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By | 2021-10-15T12:15:14+00:00 October 15th, 2021|Business|Comments Off on China Evergrande crisis caused by ‘poor management’, but an exception in healthy property market, central bank says