Home Business China’s Warning to Evergrande Was Aimed at Fantasia, Too

China’s Warning to Evergrande Was Aimed at Fantasia, Too

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When the central bank breaks its silence, developers listen, whether they are onshore or offshore. In late August, in a rare public rebuke, it told Evergrande to refrain from spreading “untrue” information, following rampant media reports on various potential sales of the developer’s assets. Very quickly, Evergrande put up a statement on its website, confessing rumors of it selling 65% of its EV subsidiary to Xiaomi Corp. were not true. It had reached out to the smartphone maker but the two sides did not hold substantial discussions, said the company. 

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