China's Money Market Chaos and Evergrande's Struggles: Key Updates

China's clashing priorities in money markets have led to a chaotic situation in short-term funding rates, with the yuan experiencing pressure. Evergrande, the world's most indebted property developer, is struggling to revive its debt restructuring plan due to challenges in obtaining approval from shareholders and Chinese regulators. He Lifeng, China's economy tsar, has been appointed as the director of a key Party commission, strengthening his status as the country's economic overlord.