China weighs breaking up Evergrande to contain property crisis

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Barely a day after troubled developer China Evergrande said it aimed to have an initial restructuring plan in six months, Beijing authorities are reportedly considering breaking it up by selling most of its assets. No concrete plans are on the table, but reports have said proceeds from asset sales would be used to repay creditors It is unclear how much losses banks and bondholders would be forced to accept. If approved, the plan would mark the biggest move by Beijing to avoid a disorderly breakdown of the world’s most indebted developer.

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