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Evergrande Crisis
Heavily indebted China Evergrande Group, one of the country’s largest property developers, is suffering a liquidity crisis after years of running a highly leveraged business. The company’s troubles have already started to reverberate through China’s economy and markets around the world.
In Depth: How Evergrande’s Founder Played the Capital Markets
Hui Ka Yan had a knack for creating hype that drove the debt-ridden developer to a stratospheric valuation, allowing it to borrow ever larger amounts
Business Brief (Oct. 13): Beijing Decries U.S. ‘Double Standards’ on Trade Controls
China to levy special port fees on U.S. ships, Dutch government orders asset freeze at Chinese-owned Nexperia
Commentary: To Globalize the Yuan, China Must Fix Its Bond Market
Beijing has made strides in building the world’s second-largest debt market, but deep-seated flaws and low foreign ownership prevent the yuan from achieving its potential as a true reserve currency
Hong Kong Court Puts Evergrande Liquidators in Charge of Founder Hui’s Fortune
Liquidators granted sweeping powers to hunt Hui Ka Yan’s assets, including offshore trusts and shell firms
Exclusive: Citic Bank’s International Department Chief Becomes Unreachable
Zhang Lin’s situation may involve a close relative and is likely linked to Evergrande, sources say
Business Brief (Aug. 26): Chinese Stocks Surge, Yuan Appreciates
Shanghai eases property restrictions to boost market, China outlines major expansion of its national carbon trading
CX Daily: China’s Stock Market Roars Back to Life — But Can It Outrun Economic Gravity?
China’s top securities regulator reshuffles key departmental heads. Cambricon inches closer to becoming the country’s priciest stock.
CX Briefing: Evergrande Subsidiary Set for Liquidation
Also in today’s rundown: Shares of Chinese AI chipmaker Cambricon surge, Beijing sets new rules for overseeing rare earth industrial chain
Commentary: China’s Economy Undergoes a Six Trillion Yuan Repair
Despite a surprise contraction in credit growth, government financing is improving corporate cash flow and boosting investor sentiment, with micro-level data pointing to a nascent turnaround
Hong Kong Court Freezes $24 Million in U.S. Assets Tied to Ex-Evergrande CEO
Wife of Xia Haijun added as eighth defendant in litigation to recover assets of collapsed property giant
CX Daily: How a Tycoon Looted Billions of Yuan From a State-Backed Port
China plans loan subsidies to boost spending. Evergrande faces delisting in Hong Kong this month.
Curtain Falls on Evergrande as Hong Kong Delisting Looms Aug. 25
China’s collapsed property giant says it will not be seeking a review of the decision
In Depth: Why China’s Banks Are Hunting for Fortunes Stashed Abroad
Faced with a growing mountain of bad loans, some Chinese lenders are turning to international litigation funders to claw back billions of yuan hidden in overseas mansions, yachts and bank accounts
CX Weekly Briefing: China’s Consumer Inflation Bounces Back
Also in this week’s roundup: AI startup Tars raises $122 million in angel funding, Chinese authorities begin prosecuting notorious Myanmar crime syndicate
CX Briefing: Industrial-Robot Maker Debuts in Hot Hong Kong Market
Also in today’s rundown: U.S. Commerce Secretary teases ‘bigger’ China trade talks in early August, Beijing opens late-payments complaint channel for auto supplier
Cover Story: Developers Impose Deeper ‘Haircuts’ on Creditors in Latest Debt Overhauls
China’s spiraling property slump sends developers down path of radical debt restructuring
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