Evergrande Group Photo: CFP

As of Sunday, 91.7 percent of the projects nationwide from Evergrande have been resumed, an increase of 40 percentage points above September levels, with 89,000 employees resuming work, up 31 percentage points compared with September, according to an article released on Sunday by the indebted property giant on Wechat. 

The company made remarks during a meeting aimed at resuming work and ensuring the delivery of projects on Sunday, when its founder Xu Jiayin said that since Evergrande fell into trouble, less than 10,000 apartments were settled in September, October and November, but with the resumption of construction and production, the company has 115 projects scheduled for delivery in December.

Xu said that under the guidance of the government and with the strong support from partners and financial institutions, the resumption of construction has seen results following hard work by all Evergrande staff.

South China's Guangdong provincial government summoned the heavily indebted China Evergrande Group on December 3, after the Shenzhen-headquartered property developer warned earlier that it may fail to meet its financial obligations.

At the request of Evergrande, in order to effectively address risk, protect the interests of all parties and maintain social stability, the Guangdong government agreed to send a working group to Evergrande to urge the company to promote risk disposal, strengthen internal control management and maintain the company's continued operation.

"With the last five days left in this month, we must make an all-out push to achieve the target of delivering 39,000 units in December," Xu said during the meeting.

Xu added that Evergrande will increase the number of employees resuming work by all means and improve the work efficiency, in order to ensure the quality and progress of construction.

At present, more than 80 percent of interior decoration teams have resumed cooperation with Evergrande, and more than 80 percent of the long-term cooperative material suppliers have also resumed supply, signing 6,869 material supply contracts, which has played a key role in the final finishing apartments and settling with buyers

Xu noted that as long as Evergrande resumes work and construction at all costs, the company will be able to deliver buildings to the homebuyers alongside with resuming sales, operations and paying off its debts.


Global Times