A recent report in our Entrepreneur Magazine noted that at the March 31st results conference, our leading company
Evergrande Group
（Xia Haijun, vice chairman and president of the board of directors of Evergrande (HKEx: 03333), has unveiled the group's debt reduction plan for the next three years: it plans to reduce its interest-bearing debt to less than 590 billion yuan by June 30, 2021, and to further reduce it to less than 450 billion yuan by June 30, 2022, and to keep it below 350 billion yuan by June 30, 2023, according to the plan. In response to the "three red lines" put forward by the regulators, Evergrande Group has formulated a detailed response plan, aiming to reduce the net debt ratio to less than 100% by June 30, 2021, to achieve a cash-to-short-debt ratio of more than 1 by December 31, 2021, and to reduce the balance sheet ratio to less than 70% by December 31, 2022, and gradually achieve this in annual installments. below 70%, with gradual compliance over a period of years to ultimately fully meet regulatory requirements.
