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China Evergrande’s liquidity crisis deepens, report flags interest payment miss

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Reuters

(This September 14th story corrects verb form in para 2) By Clare Jim HONG KONG (Reuters) – China’s major banks have been notified by the housing authority that Evergrande Group won’t be able to pay loan interest due Sept. 20, Bloomberg reported, underlining the broadening impact of the property developer’s liquidity crisis. The troubles ailing the nation’s no. 2 property developer have already sparked social anger among investors and homebuyers and raised risks for China’s vast financial system. Ministry of Housing and Urban-Rural Development (MOHURD) held a meeting with the banks this week, …

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