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Boss of debt-ridden Chinese property giant Evergrande sells $1.1BILLION worth of assets | Daily Mail Online

News Snapshot:

The boss of debt-ridden Chinese property giant Evergrande has sold $1.1billion worth of assets including jets, art and Hong Kong flats under order from Beijing amid fears the firm's collapse could spark a global financial meltdown. Chinese authorities told the company's chairman Hui Ka Yan, 63, to use some of his personal wealth to help pay bondholders, two separate people with knowledge of the matter told Reuters last month. Evergrande is scrambling to meet its debt obligations, with Hui Ka Yan freeing up funds from luxury assets, according to state-owned China Business News on Tuesday, citing anonymous sources close to…

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