China Evergrande Moves From Shenzhen HQ Building to Cut Costs

China Evergrande Moves From Shenzhen HQ Building to Cut Costs
A partially removed company logo of China Evergrande Group is seen on the facade of its former headquarters in Shenzhen, Guangdong province, China, on Jan. 10, 2022. David Kirton/Reuters
Reuters
Updated:

SHENZHEN, China—Heavily indebted property firm China Evergrande Group said on Monday that it has moved out of its headquarters in Shenzhen to another property in the city to cut costs and was still registered in the southern Chinese city.

The company issued its statement after the Chinese media outlet The Paper reported that Evergrande had moved its headquarters from Shenzhen to nearby Guangzhou.