China’s Kaisa needs external help for debt payment, NDRC meets with property developers

China’s National Development and Reform Commission (NDRC), the country’s state planner, held meetings with banks and property developers in Shenzen on Monday, Reuters reports, citing an unnamed source.

China Vanke, Kaisa Group, Ping An Bank, China Citic Bank, China Construction Bank and CR Trust met with the NDRC on Monday.

In other news, Reuters reported that the Chinese property developer Kaisa said it needed external help to pay investors, workers and suppliers.

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