Chinese authorities are preparing for the potential downfall of Evergrande, the Wall Street Journal reported Thursday.
Chinese authorities have told local officials to prepare for a potential demise of heavily indebted property developer Evergrande, the Wall Street Journal reported on Thursday. Local officials described the signals from Chinese authorities as “getting ready for the possible storm” and said the government told them they should only step in at the last minute to prevent spillover effects from Evergrande’s demise, the WSJ report said.
