China's real estate development giant Evergrande Group's losses fell 50 percent to 33 billion yuan ($4.53 billion) in the first half of this year from January to June, compared to 66.4 billion yuan lost in the same period last year.
Evergrande is at the forefront of a crisis in China's real estate sector, which has seen a series of defaults since late 2021.
Evergrande said it had met the exchange's guidance "sufficiently" to resume trading in its Hong Kong-listed shares and applied to resume trading from August 28. Evergrande has been suffering from a financial crisis for two years due to declining demand for real estate in China, which has led to its default on its debts while it continues to try to restructure its operations.
Source (Al-Arabiya.net Website, Edited)
