Evergrande chairman has sold $1.1 billion worth of his personal assets to prop up the company, Chinese state media reports

Xu has sold several houses in Hong Kong, Guangzhou and Shenzhen, as well as some private jets, the state-owned China Business News reported Tuesday, citing anonymous sources close to the matter.

9 billion, according to the Bloomberg Billionaires Index — far less than the hundreds of billions of dollars that Evergrande carries in debt.So far, though, the company appears to have avoided defaulting on any of its publicly traded offshore bonds by paying overdue interest before grace periods expire for each of those obligations.It has another deadline coming up for an overdue payment on a dollar-denominated bond.

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