Justin posted the People's Bank of China statement highlights overnight ICYMI:

In amongst what is a fairly generic sort of statement from the PBOC was a brief comment on housing investors. Evergrande was not mentioned by name.

Also re the troubled property development firm, the Shenzhen government began investigating the wealth management unit of the firm, the Shenzhen Financial Regulatory Bureau said

  • "relevant departments of the Shenzhen government have gathered public opinions about Evergrande Wealth and are launching a thorough investigation into related issues of the company"
  • urged China Evergrande and Evergrande Wealth to work to repay investors

When upper levels of China's administration 'urge' your firm to do something you better pay attention.

---

Its just past 5am in China. The latest on what to expect from Evergrande this week is here:

Justin posted the People's Bank of China statement highlights overnight ICYMI: