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As Evergrande collapse looms, other Chinese developers warn of default

As Evergrande collapse looms, other Chinese developers warn of default

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  1. >“Its spillover impact appears largely manageable,” investment bank UBS said in a research note on Monday, saying there were signs from Chinese authorities that they would help limit the fallout. Ren wrote on Chinese social media platform WeChat on Monday that not long after joining Evergrande, he had called for the company to reduce its level of debt and tighten its focus, but he had received internal criticism from other executives. The Evergrande crisis has come at a time when China’s leadership has turned against the country’s corporate giants, cracking down on business titans including Alibaba founder Jack Ma.

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