The stock price of Chinese real estate developers, which is deeply trapped in financial dilemma, rose 18%on Wednesday (November 8) in the afternoon.
Reuters earlier quoted people familiar with the matter that Chinese officials demanded that the insurance company in Ping An of China has obtained the controlling stake in Country Garden.However, Ping An issued a statement that the report was completely inconsistent with the facts and never received any relevant requirements.
The stocks of these two companies responded to the news.
At 4:08 pm on Wednesday (November 8th), the stocks listed in Ping An in Hong Kong fell 5.41%, while Country Garden rose 12.16%.
As of the end of June this year, the total liabilities of Country Garden, which fell into a financial predicament, were 1.4 trillion yuan (about 260 billion yuan).
