Evergrande Crisis to Be Dealt With by Market, PBOC’s Yi Says

(Bloomberg) — China Evergrande Group’s inability to meet its obligations is a market event and will be dealt with in a market-oriented way, the head of the nation’s central bank said.

“The rights and interests of creditors and shareholders will be fully respected in accordance to their legal seniority,” People’s Bank of China Governor Yi Gang said Thursday in a pre-recorded video message to a top-level seminar about Hong Kong’s future as an international financial center.