Kaisa CEO's departure dashes hopes of near-term rescue deal

Hong Kong

CHINA'S Kaisa Group said on Monday that its CEO has resigned - a further blow to the embattled property developer despite having sold some assets at the weekend to ease its short-term cash worries.

The company said that Jin Zhigang had quit "to devote more time to his personal career development" and would continue as executive director. It added that there had been no disagreement with the board.

Kaisa's bond prices fell after the announcement, with investors disappointed that Sunday's news...

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