China's central bank said it would cut reserve requirements for banks while the politburo vowed to promote healthy development of the property sector
In a filing late on Friday, Evergrande, the world's most indebted developer, also said it had received a demand from creditors to pay about $260 million
The regulators said any fallout was controllable, and that developers' normal funding needs would be met, but the sector is facing another year of tight funding
Chu's Kingston Securities was the sole manager of two share sales last month by Evergrande's electric-vehicle unit, helping the company raise more than $400 million despite a liquidity crisis
Kaisa's proposal to delay the maturity of the bond comes against the backdrop of growing creditor concerns about its ability to meet their near-term offshore repayment obligations
Chinese property firms saw their battered bonds cement a strong weekly bounce on Friday, although there was one notable absentee from the rally: China Evergrande Group.
Evergrande's troubles in meeting bond repayments have rattled markets and left many of its investors, creditors and suppliers in financial chaos
Shares of China Evergrande Group extended gains after the cash-strapped developer once again averted a destabilising default with a last minute bond payment this week
Chinese media outlet Cailianshe reported several bondholders have received interest payments of the three bond tranches that had a total of more than $148 million due last month
Several bondholders of China Evergrande Group have received coupon payments from the indebted property developer, a report said citing sources
SHANGHAI/HONG KONG (Reuters) - Cash-strapped China Evergrande Group teetered again on the precipice of default as it faced a final deadline to make an offshore bond coupon payment on Wednesday, amid growing concerns about a liquidity squeeze in the property sector.
The Fed pointed specifically to the crisis at real estate developer Evergrande
Some Chinese banks have sped up the disbursement of home loans in some cities, a relief to cash-strapped developers anxious to complete sales
Evergrande narrowly avoided a catastrophic default for the second time in a week on Friday, making a last-minute payment on an overdue dollar bond coupon
Developers are facing rising financial stress as stricter rules around borrowing and a deleveraging campaign weigh on the sector.
The official manufacturing Purchasing Manager's Index (PMI) was at 49.2 in October, down from 49.6 in September.
Evergrande, once China's top-selling developer, is reeling under more than $300 billion in liabilities
Shares of Evergrande rose more than 1% in early trading on Friday, versus a 0.4% decline in the Hang Seng Index.
Evergrande faces a final deadline on Friday for a $47.5 million coupon payment that was due September 29
Now the China Evergrande Group founder's property empire is teetering on the edge of default - and his personal fortune has landed squarely in the Chinese government's crosshairs