10/24, 10:47 AM (Source: TeleTrader)
more TeleTrader news

Evergrande resumes work on over 10 projects

The Evergrande Group is resuming work on over 10 projects in Shenzhen, Dongguan and other cities, the Chinese property developer announced on Sunday.

After narrowly avoiding default by making an $83.5 million interest payment on a US dollar bond on Friday, Evergrande announced that some of the projects being further developed are in the final phases of construction, while some are in the interior design stage.

According to the post made by the company on China's WeChat app, Evergrande is working on guaranteeing construction to clients in an effort to increase market confidence.

Breaking the News / TT