China to protect legal rights of Evergrande creditors -c.bank head

China to protect legal rights of Evergrande creditors -c.bank head

China to protect legal rights of Evergrande creditors -c.bank head

The China Evergrande Centre building sign is seen in Hong Kong, China, September 23, 2021. REUTERS/Tyrone Siu

HONG KONG, Oct 20 (Reuters) – China will fully respect and protect the legal rights of Evergrande Group’s (3333.HK) creditors and asset owners in line with repayment priorities laid out by the law, the country’s central bank head, Yi Gang, said.

Yi made the remarks on Sunday at an online meeting of the Group of 30 International Banking Seminar, and they were released in a transcript on Wednesday. read more

Yi also said regulators should do their best to avoid risks from cash-strapped Evergrande spilling over into other property developers and the broader financial sector.

Reporting by Clare Jim and Meg Shen; Editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.