Evergrande Debt Crisis is Controllable: The People's Bank of China
China has not made any public statement about the Evergrande Issue till now. Now the Central Bank Of China has given out a statement and said that the issue can be solved just with a few efforts. It also said that the Individual Financial Institutions are nothing big and can be controlled easily. It is also said that the Chinese authorities are urging Evergrande to start doing asset disposal and resume the projects.
The Evergrande has missed a series of bond interests and has become the world’s most indebted company with a debt of over $300 billion. The company kept on missing the interest payment on its dollar bonds three times straight. China has continuously shown an increase in investment in the property market and specific measures have been taken to control and monitor the situation.