Beat me to it. Was going to post it up myself. Basically the CCP is putting pressure on the Banks to give them time to sell down assets to meet their obligations. Down the track they are going to force Evergrande to break up into lots of little entities which will then force them to stop taking on crazy amounts of debt. The Little Evergrande's will not be too big to fail and will not have the support of the banks or CCP next time around and its a shot across the bows of other Chinese companies whats in store for them.The cant continue thinking they can stay over-leveraged and if it doesn't play out the government will be there to bail them out..
Beat me to it. Was going to post it up myself. Basically the CCP...
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