China Evergrande shelves plan to sell stake in property services unit

China Evergrande shelves plan to sell stake in property services unit

FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo

China‘s property sector saw more drama on Tuesday as Evergrande shelved plans to sell a majority stake in its property services unit, Sinic formally declared default and Kaisa was crunched by another credit rating cut.