China Insurance Giants China Ping An Wednesday (November 8th) issued a clarification announcement in the Shanghai Stock Exchange stating that the company did not hold a shares in the real estate company Country Garden in debt.
According to the website of the Shanghai Stock Exchange, Ping An of China said in the announcement that it is concerned about a news report that the company is required to acquire Country Garden and inherit its debt by the company or institution issued by Reuters.
China said safely that the report is completely inconsistent with the facts. The company has never received any relevant suggestions and requirements of relevant government departments or institutions, and the company does not have any transaction plans or discussions related to this."As of now, the company has not held the shares of Country Garden Holdings Co., Ltd."
Bloomberg had quoted people familiar with the matter and revealed that Ping An of Ping An sold was sold in the last quarter.EssenceAccording to the data compiled by Bloomberg, as of August, Ping An's shareholding in Country Garden was 4.9%.
Reuters quoted sources on Wednesday afternoon that the Chinese State Council instructed the Guangdong Provincial Government to help arrange Chinese Ping An to assist Country Garden.
