Monday’s applications to resume trading applied to the Evergrande Group and its services arm, while there was no such request for the EV unit.
It is just weeks since the firm resumed trading following a 17-month halt caused by its failure to publish its financial results.
Evergrande estimated it had debts of US$328 billion at the end of June.
The company said last month it was unable to issue new debt because its subsidiary, Hengda Real Estate Group, was being investigated and key meetings planned for debt restructuring were shelved.
The firm said it was “necessary to reassess the terms” of the plan in order to suit the “objective situation and the demand of the creditors”.
Its property arm missed a key bond payment last week, and Chinese financial website Caixin reported that former executives had been detained.
The crisis has deepened a broader slowdown in the world’s second-largest economy.
The property sector has long been a pillar of growth – along with construction it accounts for about a quarter of GDP – and it experienced a dazzling boom in recent decades.
However, the massive debt accrued by its biggest players has been seen by Beijing in recent years as an unacceptable risk for China’s financial system and overall economic health.
Policymakers have come under intense pressure in recent months to unveil measures to support the economy, particularly the property sector.
Source: CNA
