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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
Top Stories of the Month: China’s Mortgage Boycott Epicenter Gives Developers an Ultimatum
Local governments in China have been making efforts to jump-start the country’s flagging real estate sector
Few Chinese Developers Qualify for New Bond Guarantee Program, Industry Sources Say
While the pilot could provide a short-term lifeline for some, it’s uncertain how many private property companies have the required collateral
Shenzhen Sets Up Platform to Help Cash-Strapped Developers Finish Stalled Projects, Sources Say
Shenzhen Anju Jianye Investment Operation won’t inject funds to restart construction, but will instead help facilitate additional loans
China’s Housing Prices Slump for a Year as Crisis Drags On
New-home prices in 70 cities fell 0.29% last month from July, official data showed
Weekly Must-Read: China’s War on Rampant Telecom Scams
A new law gives authorities powerful new weapons to help prevent millions of people from losing billions of dollars to cellphone and internet fraud
CX Daily: Ant Group Rebuilds for Regulators, but at What Cost?
Xi will make his first foreign trip since the Covid-19 pandemic began
Evergrande Hong Kong Headquarters Building Seized by Creditor
Citic Bank exercises lien over unpaid loan of almost $1 billion after the world’s most indebted developer tried to sell it for twice that amount
Evergrande Vows to Resume All Projects to Allay Boycott Concerns
The deeply indebted builder says it will restart construction on the last 38 stalled developments by the end of September
CX Daily: How China Is Trying To Get Debt Dodgers To Pay Up
Record numbers apply for China’s teachers exam amid a bleak job market. The Hong Kong Stock Exchange considers speeding up reviews for homecoming listings
Evergrande Exits Shengjing Bank in $1.05 Billion Forced Sale
Funds from auctioning off 14.57% stake go to pay off debt and bring down the curtain on a controversial investment
China Builder Sunac Gets Liquidation Petition as Pressure Mounts
Creditor files motion with Hong Kong court as the embattled property developer struggles to restructure debt
Distressed R&F Dumps Beijing Hotel at a Loss
Transaction raises $79 million for the cash-strapped developer to apply to its looming $12 billion of debt coming due within a year
China’s Property Sales Extend Slump Amid Vicious Cycle
Total sales at the top 100 developers fell 32.9% to $75 billion in August
Opinion: Evergrande Offshore Bondholders Must Think Carefully About Their Own Exposure
Bondholders ought to take into account the recent rulings of the Hong Kong court to determine the merits of their claim, specifically compared to their envisioned recovery under a traditional restructuring
Chinese Property Giants See Fortunes Diverge During Crisis
Country Garden posted a record 96% drop in profit, while its biggest rival Vanke reported an 11% increase in net income
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