Chinese authorities have sent a working group to heavily indebted developer Evergrande as it veers closer to default.
The move has been seen as a signal that Beijing will not let the troubles of the property company spill over into the rest of the market.
Shares in Evergrande, which owes around $300bn, have dropped by 20% after the company said at the end of last week that there was no guarantee it could pay the $260m of previously undisclosed debts now demanded by creditors, or the $82.5m that will become an official default today.
