China to protect legal rights of Evergrande creditors -c.bank head
The China Evergrande Centre constructing signal is seen in Hong Kong, China, September 23, 2021. REUTERS/Tyrone Siu
HONG KONG, Oct 20 (Reuters) – China will absolutely respect and defend the authorized rights of Evergrande Group’s collectors and asset house owners in step with reimbursement priorities laid out by the legislation, the nation’s central financial institution head, Yi Gang, stated.
Yi made the remarks on Sunday at a web based assembly of the Group of 30 Worldwide Banking Seminar, they usually have been launched in a transcript on Wednesday.
Yi additionally stated regulators ought to do their finest to keep away from dangers from cash-strapped Evergrande spilling over into different property builders and the broader monetary sector.
Reporting by Clare Jim and Meg Shen; Modifying by Louise Heavens
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