State-Dispatched Risk Managers Arrive at Evergrande

What’s new: The Guangdong provincial government dispatched a working team to China Evergrande Group’s office in Guangzhou to study the company’s financial condition and help with risk disposal, Caixin learned from people close to the matter.

Evergrande management was told to report directly to the working team. Evergrande’s vice president and auto business chief Xiao En is in charge of the company’s daily operations.