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Evergrande creditors' rights protected

AAPReuters
China's central bank says Beijing will respect and protect the legal rights of Evergrande creditors.
Camera IconChina's central bank says Beijing will respect and protect the legal rights of Evergrande creditors. Credit: AP

China will fully respect and protect the legal rights of Evergrande Group's creditors and asset owners in line with repayment priorities laid out by the law, the country's central bank head, Yi Gang, says.

Yi made the remarks on Sunday at an online meeting of the Group of 30 International Banking Seminar, and they were released in a transcript on Wednesday.

Yi also said regulators should do their best to avoid risks from cash-strapped Evergrande spilling over into other property developers and the broader financial sector.

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