CHINA EVERGRANDE – Evergrande stocks rally after creating risk control group

Spain, UK

Shares of the highly indebted Chinese property developer Evergrande rebounded at the start of trading on the Hong Kong Stock Exchange on Tuesday following an announcement of the creation of a risk management committee to mitigate and eliminate future risks.

“In view of the operational and financial challenges the Group is facing, the board of directors of the Company (the Board) resolved to establish a Risk Management Committee of China Evergrande Group (the Committee),” Evergrande said in a Monday night statement. EFE

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