China's central bank announced a liquidity injection into the financial system after borrowing costs soared, as ongoing risks posed by China Evergrande Group's debt crisis damaged market confidence in the country. her peers, too.
The People's Bank of China added 100 billion yuan ($15 billion) of net liquidity to the market on Monday, after injecting 50 billion yuan into it the previous day, helping Reduced interest rates for seven-day buybacks.
The Chinese Central Bank pledged to maintain a healthy real estate market; To avoid the negative repercussions and effects of the Evergrande crisis.
Tens of thousands of Chinese families risk being swept into the stunning meltdown of the Evergrande, after the real estate developer defaults on financing products sold through non-bank lenders.
Some of these lenders, known as trusts, have already gone out of their own pockets to pay wealthy investors on behalf of Evergrande, according to people familiar with the matter.
According to Al Sharq newspaper, the sources, who requested anonymity due to discussing confidential matters, said others are negotiating with Evergrande to extend the payment deadline.
It is not clear how much money is in arrears, and there is no evidence that trusts are passing payment delays to customers who have purchased Evergrande-linked fixed-income financing products.
