China seeks to insulate, not save property giant          

Beijing has stepped up efforts to limit the fallout from  Evergrande's attempts at  a massive restructuring

Evergrande headquarters in Shenzhen in China: Shares in the property giant have been suspended.

As China's Evergrande edges closer to a massive restructuring, Beijing has stepped up efforts to limit the fallout, signalling it’s willing to prop up healthy developers, homeowners and the property market at the expense of global bondholders.

In the last week alone, Chinese authorities have dispatched top financial regulators to nudge the country’s massive banks to ease credit for homebuyers and support the property sector. They also bought out part of Evergrande’s stake in a struggling bank to limit contagion. The central bank meanwhile has pumped €105bn into the financial system over 10 days to ease liquidity.