The CEO of Chinese developer Kaisa Group has resigned.
His resignation comes despite the company having sold certain assets this weekend to ease its short-term cash crunch.
Kaisa has found itself over leveraged amid the current downturn in the Chinese property market.
The company has been trying to sell off some of its properties in an effort to raise cash.
However, courts in both Shenzhen and Shanghai have blocked sales of its holdings in a bid to protect its creditors.
For more on Kaisa's situation, we're joined on the line by Gao Shang, analyst with Beijing-based Guantong Futures.
