Evergrande stresses greatest efforts to stabilize operations

China Evergrande Group stressed its greatest determination and efforts to stabilize its operations and eliminate debt risks, so as to maintain the stability of the property market and financial fundamentals, the real estate conglomerate said on its official website on Friday.

The announcement was a response toward the meeting that the People's Bank of China and the China Banking and Insurance Regulatory Commission reportedly had with China Evergrande Group's executives on Thursday, as the two authorities urged it to stabilize its operations and proactively defuse risks.

China Evergrande would fully implement the meeting's request, and firmly implement the central government's strategic deployment on the stable and healthy development of the property market. As an enterprise, China Evergrande vowed to do its best to ensure property projects are delivered in due quantity and quality. The group would resolutely disclose information on major issues in accordance with relevant laws and rules, would never spread false information, and would make clarifications in the event of disinformation.

"(China Evergrande) has the greatest determination to stabilize its business, actively resolve debt risks, as well as maintain the stability of the property and finance markets," it added.

Chinese tech company Xiaomi Corp on Friday denied market rumors that it is in negotiations with Chinese property company Evergrande Group to buy the latter's 65 percent stake in a carmaking business.

A spokesperson of Xiaomi said the company has conducted communications with various carmaking teams, but it has not made any decision on its intention to cooperate.

China Evergrande admitted having initial communications with Xiaomi upon invitation from a strategic shareholder, but no further negotiations were made.