Evergrande addresses unease amid reports of financial woes

It explains why it cut prices on some projects, says ties with Shengjing Bank comply with law

Evergrande Group, the second-largest property developer in China, has sought to assure customers and investors that it is business as usual, following recent news reports that the company is facing deep financial woes.

On Monday, the group posted on its website that it had offered discounts on some of its projects as part of an annual promotion. It also said its business with Shengjing Bank in north-eastern China has been in compliance with Chinese law.

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A version of this article appeared in the print edition of The Straits Times on June 12, 2021, with the headline 'Evergrande addresses unease amid reports of financial woes'. Subscribe