Chinese State Bank Takes Shimao Legal Challenge to Hong Kong

A unit of Agricultural Bank of China Ltd. is taking its legal challenge against defaulted Chinese builder Shimao Group Holdings Ltd. to Hong Kong as it seeks to recover about 1 billion yuan ($140 million) in unpaid debt.

​A unit of Agricultural Bank of China Ltd. is taking its legal challenge against defaulted Chinese builder Shimao Group Holdings Ltd. to Hong Kong as it seeks to recover about 1 billion yuan ($140 million) in unpaid debt.