News Snapshot:
“I firmly believe that Evergrande’s spirit of never admitting defeat and becoming stronger with frustration is the source of our strength to overcome all difficulties!” That was the chairman of troubled property group China Evergrande 3333, -0.44% , Xu Jiayin, who was channelling his inner Winston Churchill in what appeared to be a rally-the-troops letter to employees that leaked online Tuesday. The billionaire wished his colleagues a happy mid-autumn festival, thanking them for their hard work, especially those “still fighting on the front line of resuming work and production.” The letter was posted in its entirety by several Chinese media...
