The world's most indebted property developer reports progress completing homes
CNN
China Evergrande Group said on Sunday it had made initial progress in resuming construction work with its chairman vowing to deliver 39,000 units of properties in December, compared with fewer than 10,000 in each of the previous three months.
Evergrande is the world's most indebted property developer, with over $300 billion in liabilities. It is struggling to repay bondholders, banks, suppliers, and deliver homes to buyers, epitomizing a bloated industry suffering from the Chinese government's deleveraging campaign.
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