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China Evergrande missed $28 million payment on Changchun land purchase, city govt says By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The China Evergrande logo can be seen outside the China Evergrande Center building in Hong Kong on September 23rd, 2021. REUTERS/Tyrone Siu/File Photograph

BEIJING (Reuters), – China Evergrande Group is a heavy indebted property developer. It has yet to make payment of the $28m equivalent for the land it purchased in Changchun’s northeastern region, according to municipal officials.

Evergrande acquired the land via Changchun Jitao Real Estate Development Co. The auction took place on June 17th and was part of 22 coordinated sales in China.

($1 = 6.4364 renminbi)

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