Shares in China Evergrande Group's electric vehicle unit rose as much as 5.8%, but the parent company's stock plunged by similar level.

Bondholders confirm they were paid for a dollar bond tranche that was due last month, the deadline for which ended last Saturday

Policies include property tax aimed at deterring speculation and cooling home prices that have surged more than 2,000% since the housing market was privatised in the 1990s

China Evergrande chairman Hui Ka Yan's statement that its electric vehicle venture would become its primary business in 10 years cheers investors

Group said on Sunday it has restarted work on multiple projects in Shenzhen, Dongguan and other cities - and posted photos of workers with dates on them to prove it.

China authorized property tax trials in some areas that if rolled out broadly would signal a profound shift for its economic model.

Chairman Hui Ka Yan predicts that electric vehicles will be the group's top focus in the years ahead, but many analysts say Evergrande may be lucky to survive the year, let alone the next decade.

Slump will add pressure on local authorities, who depend partly on real estate auctions for income

Evergrande paid interest on a US dollar bond two days before a deadline, the state-backed Securities Times reported. But it still has a mountain of debt to pay.

Embattled property development company remits $83.5 million in coupon payments to a trustee account at Citibank on Thursday

Bid to buy 50.1% of Evergrande Property Services for HK$20 billion failed when embattled developer rescinded the sale

Developer wins a 3-month extension on maturity of a $260m bond, but it has scrapped a deal to sell a 50.1% stake in its property services unit to Hopson, so chances of it avoiding default look unlikely.