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Evergrande Crisis

China Evergrande Crisis News - Caixin Global

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

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03 30, 2023 04:33 AM

Global Creditors Face Long Fight With China Developers for Cash

Dollar bondholders’ efforts to get defaulters to pay up have been stymied by lengthy debt restructuring processes and litigation

03 29, 2023 19:41 PM

Bond Market Tumult Ravages Two Chinese Financial Majors’ Hong Kong Units

Bocom International and Guotai Junan International both report taking hits to their bottom lines for 2022

03 24, 2023 21:25 PM

Charts of the Day: China Evergrande’s Restructuring Plan Shows Magnitude of Its Crippling Debt Pile

The world’s most indebted developer will give creditors of its $19 billion of offshore bonds new notes or a combination of debt and equity-linked securities

03 24, 2023 20:31 PM

Tech Insider: TikTok CEO Grilled, Geely’s NEV Sales Soar

Google’s former China chief gets in on ChatGPT mania, Tencent’s quarterly revenue starts growing again

03 24, 2023 20:11 PM

In Depth: China’s Patchy Property Revival

China’s financial authorities are hailing a rise in home sales and bottoming out of prices, but the positive data is focused in first and mid-tier cities. It’s likely too early to call a rebound, analysts say

03 23, 2023 17:22 PM

China Evergrande Will Swap Defaulted Debt in Court Restructuring

The embattled company’s credit investors can receive new notes maturing in 10 to 12 years or a combination of new debt and instruments tied to the shares of the developer or two of its subsidiaries

03 23, 2023 15:25 PM

China Evergrande’s EV Unit May Shut Down Without New Funding

The automaker says it needs more than $4.2 billion to launch new models and achieve mass production

03 21, 2023 03:44 AM

Evergrande Prepares Restructuring Agreement for End of March

World’s most indebted developer tells Hong Kong court that creditors will get term sheets this week

03 02, 2023 18:24 PM

Developers Vanke, Poly Plan Shares Sales as Market Thaws

Two of China's top real estate firms are tapping investors after regulators ended a ban on onshore equity fundraising amid an unprecedented housing slump

03 01, 2023 08:29 AM

CX Daily: China Threatens Retaliation After U.S. Sanctions Chinese Firms With Alleged Russia Ties

A Chinese economist known for advocating private investment in state-owned enterprises, dies at 92

02 28, 2023 15:56 PM

China’s Evergrande Fails to Win Creditors’ Support as Liquidation Looms

The developer at the epicenter of the country’s real estate crisis has yet to reach a deal on a debt restructuring framework crucial to avoiding a court-ordered fire sale of its assets

02 17, 2023 18:35 PM

Caixin China Biz Roundup: Billionaire Investment Banker Unreachable

China Renaissance Chairman Bao Fan hasn’t been in touch with his company in days, Evergrande vows to fix internal controls in wake of $2 billion deposit debacle, and China’s top soccer official ensnared in graft probe

02 17, 2023 15:03 PM

Shanghai Composite Index Fell 0.77% on Friday

Shenzhen Component Index closed down 1.61%

02 17, 2023 09:55 AM

CX Daily: Exclusive: Billionaire Founder of China Renaissance Goes Missing

Bao Fan, the billionaire founder and chairman of private investment bank China Renaissance, has been out of contact

02 16, 2023 20:09 PM

Developer Evergrande Vows to Fix Internal Controls in Wake of $2 Billion Deposit Debacle

An investigation reveals that the money was pledged as collateral for loans taken out by third-party firms

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