Chinese banks try to calm fears about developer's debts – The Economic Times

Reuters The Evergrande owes $305 billion and markets are worried a collapse could pose systemic risks to China’s financial system and reverberate around the world. Seeking to dispel fears of financial turmoil, some Chinese banks are disclosing what they are owed by a real estate developer that is struggling under $310 billion in debt, saying they can cope with a potential default. The announcements came as Evergrande Group promised to talk with some individual investors who bought its debt while creditors waited to see whether Beijing will intervene to oversee a restructuring to prevent financial disruptions. Evergrande’s struggle to meet…