GPS News  
TRADE WARS
Developer Evergrande says 57,400 properties handed to buyers
by AFP Staff Writers
Beijing (AFP) Nov 3, 2021

Troubled Chinese developer Evergrande said Wednesday that it has delivered over 57,400 units to buyers between July and October, in a latest bid to calm worries over its liquidity crunch.

As one of China's biggest property developers, fears around Evergrande's debt mountain have battered investor sentiment and shaken the country's mammoth real estate market.

But the firm has been trying to shore up confidence in recent weeks -- including meeting recent interest payments it had been expected to miss -- and said last month that work had resumed on over 10 stalled projects.

On Wednesday the company posted to social media that from July to October it had finished and delivered 57,462 new properties to their buyers.

"Guaranteeing property deliveries is the top priority of Evergrande Group," the statement added.

The completed properties were across 184 different projects, it said.

Shares rose more than 2.5 percent in Hong Kong on Wednesday afternoon.

Evergrande is bogged down in a sea of over $300 billion in liabilities, but averted default twice in October after making overdue interest payments to offshore bond holders.

The crisis has prompted rare public anger and protests from anxious homebuyers, suppliers and investors.

The developer plunged into crisis after Beijing began clamping down on the country's colossal property sector, which by some estimates accounts for a quarter of the economy, in a bid to rein in excessive debt.

China now appears to be rolling back some of those regulations, however, with the Securities Times reporting earlier that local banks had begun easing some credit controls on homebuyers and developers in the wake of orders from the central bank.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Tokyo leads most Asian markets up but China data hits Hong Kong
Hong Kong (AFP) Nov 1, 2021
Most Asian and European markets rose Monday, with Tokyo leading the way as a win for Japan's ruling party in a weekend general election fuelled hopes it will push ahead with a fresh stimulus, though Hong Kong was hit by data showing further weakness in China's economy. News that inflation had hit a 30-year high in the United States and a 13-year peak in the eurozone added to long-running concerns that price rises are in danger of running out of control, while piling more pressure on central banks to ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Climate change aggravating Central Mali crisis: ICRC

No tilling, no chemicals in S.African farmer's revolution

Finnish scientists create 'sustainable' lab-grown coffee

Spread it round: five things to know about Nutella and rivals

TRADE WARS
A superconducting silicon-photonic chip for quantum communication

Northrop Grumman establishes new microelectronics packaging facility

Stretchy, bendy, flexible LEDs

Micron plans $150 bn push on domestic chip manufacturing, research

TRADE WARS
American Airlines cancels 100s of flights due to staff shortage

Turkey pressing US for F-16 fighters after F-35 plan killed

Aerospace Systems Directorate collaborates with partners to build innovative airframe

Airbus flies back to profit, raises full-year target

TRADE WARS
Amazon-backed EV startup aims for valuation above $50 bn

Making self-driving cars human-friendly

How robots can rule roads

Self-driving race cars make history in Indianapolis

TRADE WARS
HNA's $170 bn restructuring approved by Chinese court

Most markets rise in Asia, with central bank meetings in focus

Tokyo leads most Asian markets up but China data hits Hong Kong

China factory activity slumps further on energy woes

TRADE WARS
Deployment of giant reflector for forest monitoring satellite Biomass

Brazil plans combative strategy for climate talks

Blinken, in Colombia, unveils Amazon deforestation pact

Ashes from Amazon transformed into city mural to raise climate awareness

TRADE WARS
Better climate data through ten times more accurate satellite navigation

Slashing methane emissions key for keeping Earth cool

How the ozone hole influences Antarctic Ice

Antarctic Ozone Hole will persist into November 2021

TRADE WARS
The secret of ultralight but stiff sandwich nanotubes

AFRL Nano Team takes lead in building stronger ties with India

Striking Gold: A Pathway to Stable, High-Activity Catalysts from Gold Nanoclusters









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.