Evergrande has said that he'll "actively engage" with creditors

Evergrande has said that he'll "actively engage" with creditors ...

Evergrande said on Wednesday that it'll engage with its creditors "actively" following the recent financial crisis.

The world's most indebted developer had more than 300 billion hemply liabilities, with almost 20 billion of international market bonds, and was officially declared default by the rating company this month after having missed repayments.

"As a result of the threats facing the Group currently, the Risk Management Committee of China Evergrande Group uses its extensive resources and works with the creditors," Evergrande said in a statement in a magazine on Hong Kong.

This month a committee was created by Evergrande Chairman Hui Ka Yan.

Evergrande's troubles this year have sparked a massive financial crisis in China's capital firms.

Kaisa is also in talks with its bondholders, among them some of the world's biggest investment funds, because they didn't return a $200m bond this month.

Apart from Fantasia and China Modern Land, many of the companies that fail recently have also defaulted, while credit and credit ratings firms and bank analysts warn that several big companies are risked.

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