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2021-06-24
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China's Minsheng Bank says Evergrande exposure 'within controllable range'
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Credit rating agency Fitch on Tuesday downgraded the company's long-term debt to B with a negative outlook, citing ongoing pressure to downsize business and reduce total debt.</p>\n<p>Regulators have been asking banks to conduct stress tests on Evergrande, whose debt stood at 716.5 billion yuan ($111 billion) at the end of 2020, making it the most indebted developer in the country.</p>\n<p>In replies to questions on the investor platform, Minsheng said all repayments from Evergrande and its associates have been normal so far, and its loan exposure to Evergrande has dropped since the developer speeded up property sales in September.</p>\n<p>It said the overall risk is controllable because most of its loans to the developer are guaranteed by collateral such as land and properties.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's Minsheng Bank says Evergrande exposure 'within controllable range'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's Minsheng Bank says Evergrande exposure 'within controllable range'\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-24 11:35</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>HONG KONG, June 24 (Reuters) - China Minsheng Banking Group said risks from its loan exposure to debt-laden property developer <a href=\"https://laohu8.com/S/EGRNF\">China Evergrande Group</a> is \"within controllable range\", with exposure having dropped since last September.</p>\n<p>Minsheng, <a href=\"https://laohu8.com/S/AONE\">one</a> of the major lenders to Evergrande, made the comment on Wednesday evening in replies to investor questions on Shanghai Stock Exchange's E Interaction platform.</p>\n<p>Questions about Evergrande's liquidity - it has racked up more than $100 billion in debt - have emerged amid late payment on some of its commercial paper. Credit rating agency Fitch on Tuesday downgraded the company's long-term debt to B with a negative outlook, citing ongoing pressure to downsize business and reduce total debt.</p>\n<p>Regulators have been asking banks to conduct stress tests on Evergrande, whose debt stood at 716.5 billion yuan ($111 billion) at the end of 2020, making it the most indebted developer in the country.</p>\n<p>In replies to questions on the investor platform, Minsheng said all repayments from Evergrande and its associates have been normal so far, and its loan exposure to Evergrande has dropped since the developer speeded up property sales in September.</p>\n<p>It said the overall risk is controllable because most of its loans to the developer are guaranteed by collateral such as land and properties.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03333":"中国恒大"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145014410","content_text":"HONG KONG, June 24 (Reuters) - China Minsheng Banking Group said risks from its loan exposure to debt-laden property developer China Evergrande Group is \"within controllable range\", with exposure having dropped since last September.\nMinsheng, one of the major lenders to Evergrande, made the comment on Wednesday evening in replies to investor questions on Shanghai Stock Exchange's E Interaction platform.\nQuestions about Evergrande's liquidity - it has racked up more than $100 billion in debt - have emerged amid late payment on some of its commercial paper. Credit rating agency Fitch on Tuesday downgraded the company's long-term debt to B with a negative outlook, citing ongoing pressure to downsize business and reduce total debt.\nRegulators have been asking banks to conduct stress tests on Evergrande, whose debt stood at 716.5 billion yuan ($111 billion) at the end of 2020, making it the most indebted developer in the country.\nIn replies to questions on the investor platform, Minsheng said all repayments from Evergrande and its associates have been normal so far, and its loan exposure to Evergrande has dropped since the developer speeded up property sales in September.\nIt said the overall risk is controllable because most of its loans to the developer are guaranteed by collateral such as land and properties.","news_type":1},"isVote":1,"tweetType":1,"viewCount":435,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/128184072"}
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