. Earth Science 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
Ecuador suspends mountain-climbing after deadly avalanche

'Superhumans': the acclaimed author refusing to forget refugees

Smoke bombs, floods and virus fears as Glasgow readies for COP26

UN calls for more climate adaptation cash from COP26

TRADE WARS
Gaming giant Epic pulls back on Fortnite China over crackdown

Reinventing steelmaking for a green revolution

VR technology enables users to see individual cells in human body

The New York 'canners' recycling discarded bottles to survive

TRADE WARS
Self-driving Roboats, developed at MIT, set sea in Amsterdam canals

Sinkholes on receding Dead Sea shore mark 'nature's revenge'

NASA's S-MODE mission kicks off 1st deployment

Water tycoon is China's richest as wealth crackdown batters Jack Ma

TRADE WARS
Study finds growing potential for toxic algal blooms in the Alaskan arctic

Permafrost: a ticking carbon time bomb

Treasure hunt off Greenland for marine diamonds

Scientists discover large rift in the Arctic's last bastion of thick sea ice

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
US East Coast hit by flooding

Sicily braces for second cyclone this week

'Nowhere is safe': Philippine typhoon victims live in fear

3 dead, 3 missing after avalanche on Ecuador volcano

TRADE WARS
Three Chinese hostages in Mali rescued after escape

China firms in the dock over murky DR Congo gold mining ops

Three Chinese hostages in Mali rescued after escape

Five Burkina police killed in fresh attack near Mali

TRADE WARS
Newly named species of early human could help explain evolutionary gaps

Late persistence of human ancestors at the margins of the monsoon in India

The colonization of the Azores began 700 years prior to the Portuguese arrival

'We're ignorant': Illiteracy haunts isolated Venezuelan village









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.