Loading ...HONG KONG, Dec 6 (Reuters) – China Evergrande Group (3333.HK) has set up a risk management committee as the cash-strapped property developer inches closer to a debt restructuring that has loomed for months over global markets and the world’s second-largest economy.
The real estate giant, which is grappling with over $300 billion in liabilities and is at risk of becoming China’s biggest ever default, said on Monday that the committee included officials from state entities and would play an important role in “mitigating and eliminating the future risks” of the group.