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"Overall We Can Contain the Evergrande Risk" Says China's Central Bank But What About Other Companies, Banks and Government Risks?

Added 10-19-21 07:41:01pm EST - “The Evergrande solvency crisis in China continues as well as solvency issues with other companies, banks, and local governments.? Nothing has changed. MSN Money reported earlier today: The Evergrande Group found its plan to sell a…” - Thegatewaypundit.com

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Posted By TheNewsCommenter: From Thegatewaypundit.com: “"Overall We Can Contain the Evergrande Risk" Says China's Central Bank But What About Other Companies, Banks and Government Risks?”. Below is an excerpt from the article.

This keeps Evergrande, the world’s most indebted property developer, facing dues of over $300 billion, away from the $2.6 billion it would have earned from the deal in wake of a Saturday deadline on the 30-day grace period following its missed bond payment in September.

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Along with this shelved deal, China saw its real estate sector take further hits. Sinic Holdings declared default and Kaisa Group saw its credit rating downgraded. This follows announcements that China Properties Group defaulted on a loan and that Fantasia could not make recent payments, along with other companies facing credit rating drops.

Despite the recent sequence of events, the People’s Bank of China, the country’s central banking authority, told creditors to stay calm.

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