China's Shimao Group to sell its $12 bn in assets: Caixin Report

26 Jan 2022 CW Team

According to a Caixin report, Shimao Group, a Chinese real estate firm, plans to sell nearly $12 billion in assets since the developers seek to raise funds to combat its liquidity.

Chinese real estate firms struggled during the Beijing drive to curb excessive debt in the real estate sector and rampant consumer speculation, exerting pressure on its economy.

Evergrander is facing the most prominent issue of liquidity, which has been teetering on the brink for months because of servicing problems and a debt pile of $300 billion.

As per the report, Shimao Group plans to offload 34 projects in 17 cities like Beijing, Shanghai and Hangzhou. Its assets lie across the residential sector, commercial, office space and hotel projects.

Its 15 projects were valued at $6.65 billion or 42.2 billion yuan, while 19 others were either partly-owned or in the early stage, with an investment of 32.5 billion yuan.

The company's shares increased by 7% in Hong Kong after Evergrande's shares rallied in reaction to the appointment of an official state firm.

Shimao Group and Agile Group announced the sale of stakes in companies to state-owned enterprises.

Image Source

Also read: China to rollout infra projects to combat economic slowdown

Infrastructure Transport

06 Feb 2026

Second Mountain Tunnel Breakthrough in Palghar Advances High Speed Rail

The Mumbai-Ahmedabad high speed rail (MAHSR) project reached a milestone with the breakthrough of a mountain tunnel in Palghar, Maharashtra. Mountain tunnel MT-six measures 454 metres long and 14.4 metres wide and will accommodate up and down tracks. The breakthrough follows MT-five near Saphale on second January 2026 and the MT-six excavation was completed from both ends using the New Austrian Tunnelling Method. The ministry reported that the tunnelling was completed within 12 months. The New Austrian Tunnelling Method is favoured for its flexibility in complex geology and irregular tunnel s..

Modi Government Pushes Atmanirbhar Container Drive With BCSL MoU

The Union Government advanced a plan to create an integrated, domestically anchored container ecosystem with the signing of a Memorandum of Understanding to establish the Bharat Container Shipping Line (BCSL). The MoU was signed by key agencies including the Shipping Corporation of India and Container Corporation of India alongside major port authorities and Sagarmala Finance Corporation Limited under the Ministry of Ports, Shipping and Waterways, in the presence of senior ministers. The initiative aligns with the Container Manufacturing Assistance Scheme announced in the Union Budget 2026–2..

Ministry Reports Gains In Mobility For Marginalised Communities

The Ministry of Social Justice and Empowerment is implementing skill development, education and rehabilitation schemes to promote socio-economic mobility and sustainable livelihoods for marginalised and disadvantaged communities across the country. Programmes target Scheduled Castes, Other Backward Classes, Economically Weaker Sections, De-notified Tribes and Safai Karamcharis through specialised implementing corporations and empanelled training institutes. Pradhan Mantri Dakshata Aur Kushalta Sampann Hitgrahi Yojana, or PM-DAKSH, provided skill training and placement support through the Nati..