China Developer Says to Cut Debt after Rare Summon by Regulators

China Evergrande Group, the country's most indebted developer, said it will ensure its property project construction and delivery, resolve debt risks and maintain the market and financial stability, the 21st Century Business Herald reported citing the company after its executives were summoned by banking regulators in an unprecedented meeting. The developer has been selling its assets including in electric vehicles and the Internet, while two buyers are taking interest in its subsidiary Shengjing Bank, the newspaper said. Concern over the developer's financial health intensified in June when it failed to pay some commercial paper on time.