HONG KONG—China Evergrande Group has set up a risk management committee as the cash-strapped property developer inches closer to a debt restructuring that has loomed for months over global markets and the world’s second-largest economy.
The real estate giant, which is grappling with over $300 billion in liabilities and is at risk of becoming China’s biggest-ever default, said on Monday that the committee included officials from state entities and would play an important role in “mitigating and eliminating the future risks” of the group.
