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2023-10-30 16:26:13
Extending deadlines is precisely the strategy in the Chinese real estate industry to buy yourself time. The real estate conglomerate Evergrande, which has been reeling for years, should have presented its restructuring plan on Monday. That didn’t happen. Now things are getting tight for the real estate developer. A court in Hong Kong has granted Evergrande a five-week period to reach an agreement with creditors – or face liquidation. On Monday, the troubled project developer said it was working on a revised debt restructuring plan.
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