China Says It Can Contain Economic Risks: Evergrande Update


Source: bnnbloomberg.ca bnnbloomberg.ca

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(Bloomberg) -- China can contain risks posed to the nation’s economy and financial system by China Evergrande Group’s debt crisis, according to central bank Governor Yi Gang, amid deepening concerns for other developers. The property firm’s troubles “casts a little bit of concern,” Yi said at a virtual meeting of the Group of 30 on Sunday. “Overall, we can contain the Evergrande risk.” The comments came after the People’s Bank of China on Friday broke its silence on the crisis, saying risks were controllable and unlikely to spread. Amid signs of authorities’ growing unease about rising contagion risk from Evergrande’s...