October 27, 2021
HONG KONG (Reuters) – Shares of cash-strapped China Evergrande Group and its electric vehicle unit fell early on Wednesday after the country’s state planner said it had advised companies in “key sectors” to “optimise” offshore debt structures.
China Evergrande Group’s stock dropped around 2%, while China Evergrande New Energy Vehicle Group Ltd fell as much as 5%.
China Evergrande Group is reeling under more than $300 billion in liabilities, fuelling worries about the impact of its fate on global markets.
(Reporting By Anne Marie Roantree; Editing by Himani Sarkar)