China says Evergrande is manageable

Property shares in China tumble despite PBOC reassurance that Evergrande woes look manageable.
#Evergrande just for the history books.
— Steven Redlake (@stevenredlake) October 18, 2021
"China property shares fall even as PBOC says Evergrande woes manageable"
⚫🦢 pic.twitter.com/MtMrftCBbh
The CSI300 Real Estate Index falls by 2%, Hang Seng property index -0.74%.
Defaults loom over more property developers as China reassures investors on Evergrande https://t.co/QNuBUX6CZl pic.twitter.com/BRDrHL67Bo
— Loretta Chatof (@LLChatoff) October 18, 2021
The PBOC gave its take on Evergrande saying that while the matter causes some concern, the risks were 'controllable'.
I predict this week we will hear Evergrande FUD again…
— Del Crxpto (@DelCrxpto) October 17, 2021
Don’t let them push you out.
China's Q3 GDP print came at 4.9% YoY, missing expectations of 5.2%. Industrial production rose by 3.1% in September, below the 4.5% forecast. However, Retail Sales was higher at 4.4% vs. expectations of a 3.3% growth.
#BreakingNews #China's #GDP grew by 4.9% y/y in Q3, vs expected 5%, previous 7.9%
— YUAN TALKS (@YuanTalks) October 18, 2021
Economic growth in China fell more than expected in the third quarter, according to the official data. PBOC official says the spillover of Evergrande's debt woes on the banking system are manageable and individual financial institutions' risk exposures are not big. After a short Covid bounceback, recovery in world's second-biggest economy starts losing steam as a crackdown on the property sector and energy crisis begins to bite. Evergrande has $300 billion in liabilities and ignored yet another payment to foreign investors in U.S. dollar-denominated debt on Oct. 11.
#China #Evergrande is set to officially be in default on October 23 when the 30-day grace period on its first nonpayment ends.
— Peter Lewis on the radio in Hong Kong (@MoneyTalkR3) October 17, 2021
8/20
The Evergrande debt crisis is regarded as a direct threat to China’s banking system. It has $US305 billion of liabilities which is widely spread among individual banks.
EVERGRANDE CEO XIA IN TALKS WITH INVESTMENT BANKS, CREDITORS FOR POSSIBLE RESTRUCTURING, ASSET SALES - RTRS
— zerohedge (@zerohedge) October 15, 2021
The fallout in China’s property sector is widening: another Chinese real estate developer Sinic Holdings warns it’s not likely to repay offshore bonds worth $250 million. People’s Bank of China Governor Yi Gang says China can contain risks posed to the economy and financial system from the problems of Evergrande Group.
Evergrande will officially default on October 23
— Market Rebellion (@MarketRebels) October 17, 2021