China urges Evergrande’s founder to pay debt with own wealth
Chinese authorities told billionaire Hui Ka Yan to use his personal wealth to alleviate Evergrande Group’s deepening debt crisis, according to people familiar with the matter. Beijing’s directive to the Evergrande founder came after his company missed an initial September 23 deadline for a coupon payment on a dollar bond, said the people, asking not to be identified discussing a private matter.
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