Skip to Content

Chinese central banker says market can handle developer debt

AP Business Writer

BEIJING (AP) — China’s central bank governor says financial markets can cope with the impact of a real estate developer that is struggling to avoid defaulting on $310 billion in debt. Yi Gang’s comments to a Hong Kong seminar added to indications Beijing has no plans to bail out Evergrande Group. Fears of a default have rattled financial markets, but economists say the ruling Communist Party wants to avoid sending the wrong signal at a time when it is trying to force companies to cut high debt burdens. Yi said Evergrande’s problems would be “properly handled” under market principles and law.

Associated Press

Skip to content