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China Evergrande Group’s electric-vehicle unit jumped in Hong Kong trading after the chairman of the indebted property giant said making such cars would become its main business within a decade.
An onshore unit of China Evergrande Group said construction at more than 40 projects in Guangdong province is proceeding smoothly, as investor focus turns to the embattled developer’s next dollar coupon payment.
China’s economy risks slowing faster than investors realize as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from education to technology combine with a power shortage and the pandemic.
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