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Evergrande Risks Can Be Controlled: PBOC

CHINA PRESS
MNI (Singapore)

The People's Bank of China will avoid risk contagion from the Evergrande Group to other developers and to the financial sector, as it is a single case and the spillover effect is generally controllable, said PBOC Governor Yi Gang during the G30 International Banking Seminar on Wednesday, according to a statement on the PBOC website. The central bank will ensure all the creditors and related parties' legal rights being treated fairly, as the PBOC is confident that it can limit the scope and avoid systemic risks, said Yi. Yi also expects rising PPI pressure to ease by the end of the year, though the figure may remain at a high level for the following months, the statement said.

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