CHINA: According to the company’s statement the work on a China Evergrande Group project in the southern city of Guangzhou to build one of the world’s largest proceeding “as normal”.
An amount of $305 billion owed by Evergrande in debt and has run short of cash, rattling global markets. It missed a payment deadline on a dollar bond last week. The construction on the Guangzhou FC Soccer stadium, which was set to cost about 12 billion yuan began in April previous year and had been due to finish by 2022. The stadium would have a capacity of more than 100,00 which would make it the world’s largest purpose built soccer venue by capacity .
Therefore, on Sunday the owner of a small store nearby surnamed Zhao said “The world’s eyes are on it”.” How could the biggest soccer stadium in the world not be built? It won’t become a waste construction site. The government wouldn’t let this happen.”