Evergrande Sells Off More Projects to Firms That Promise to Finish Them

Debt-ridden China Evergrande Group has announced it will sell stakes in four unfinished real estate projects to two state-owned trust firms that have promised to complete them, as the troubled private developer works to keep enough cash coming in to pay its bills.

The move shows the lengths Evergrande is willing to go to comply with government directives for developers to complete projects they have already started, in hopes of rebuilding confidence in China’s battered real estate market.