Evergrande steps up home deliveries

China Evergrande (3333) said on Sunday it had made initial progress in resuming construction work with its chairman vowing to deliver 39,000 units of properties in December, compared with fewer than 10,000 in each of the previous three months.

The embattled developer also noted 91.7 percent of its projects nationwide have been resumed as of Sunday, an increase of 40 percentage points compared to the September levels.

Chairman Hui Ka Yan stressed during a meeting on Sunday that no one at Evergrande would be allowed to "lie flat," urging employees to fight day and night so that sales can be resumed and debts repaid, Evergrande said in a statement.

"With the company resuming construction work at full steam, the group plans to deliver 115 projects in December," Hui said in the statement. "With five days left this month, we must go all out to ensure we meet the goal of delivering 39,000 units this month."

The statement said Evergrande had resumed cooperation with more than 80 percent of decoration companies and long-term suppliers, having signed 6,869 contracts with material suppliers.

Reuters and staff reporter