BUSINESS Evergrande urged to minimize risk in regulator meeting

BUSINESS

Evergrande urged to minimize risk in regulator meeting

China Daily

07:27, August 20, 2021

China's central bank and the country's top banking and insurance regulator had a meeting with China Evergrande Group's executives on Thursday, urging it to stabilize its operations and proactively defuse risk.

The logo of Evergrande Group. (Photo: IC)

The People's Bank of China and the China Banking and Insurance Regulatory Commission said in a statement as a leading company in the property sector, Evergrande should implement the country's strategic policy supporting stable and healthy development of the property market.

The group was asked to maintain business continuity, actively resolve debt risks, and maintain the stability of the property and finance markets, according to the statement.

Financial regulators also called on the group to disclose true information on major events, following the requirements of laws and regulations.

They asked the group not to disseminate false information and tell the truth to the public in a timely manner.

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