China’s central bank says Evergrande is unique and most real estate developers are stable

An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018.

Bobby Yip | Reuters

BEIJING — The People’s Financial institution of China explained Friday that indebted developer China Evergrande is its personal scenario, and that most authentic estate businesses in the nation are stable.

Home giant Evergrande has $300 billion in liabilities and skipped still yet another payment to investors in U.S. greenback-denominated personal debt on Oct. 11. The developer ranks 2nd in China by revenue, prompting some problems of another “Lehman Moment.”

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