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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
Kaisa Undergoes Audit on Order of Guangdong Government
Preliminary finding by PricewaterhouseCoopers may be that the troubled developer has enough assets to cover its debts, Caixin learned
Evergrande to Hire Advisers on Debt Risks, Creditor Demands
Announcement came a day after a bondholder group said indebted developer had failed to substantially engage with it on restructuring efforts
Property Firms Face Major Debt Squeeze in First Quarter
A record amount of offshore bonds are coming due, while policy easing is yet to have an impact and sales are still low
China Aoyuan Won’t Pay Bonds, Signals Default Imminent
The developer, whose dollar bonds have sunk on debt worries, is the latest to succumb to the Chinese real estate industry’s liquidity crisis
Shanghai Composite Index Fell 0.09% on Thursday
Shenzhen Component Index closed down 0.06%
CX Daily: What China’s Overhaul of Overseas IPO Rules Is All About
China’s central bank sends an easing signal. A SPAC backed by a China Merchants Bank subsidiary files for an IPO in Hong Kong
Shanghai Composite Index Fell 0.33% on Wednesday
Shenzhen Component Index closed down 1.28%
Evergrande Transfers Projects to Partners for Debt Relief
Deals aim to reduce property giant’s liabilities while ensuring completion of more than 1 million residences for buyers
Chinese Developer Bond Rout Deepens on Hidden Debt Concerns
Already fragile investor confidence is keeping the U.S. dollar bond market shut for Chinese property companies, increasing the risk that they will fail to repay creditors on time
Shanghai Composite Index Fell 0.96% on Friday
Shenzhen Component Index closed up 0.09%
CX Daily: China’s Property Slump Pushes Real Estate Agencies to Remake Their Business
China buys more long-term LNG from Russia. More than half of the nation’s NEV exports are produced by Tesla
Evergrande Unit Gets Investors to Back Yuan Bond Payment Delay
Holders of more than half of a $707 million note accept extension, enabling indebted developer to avoid another default
Evergrande Auto Stock Plunges After It Finally Makes First Car
After years of delays, the troubled automaker says it produced its first electric vehicle 12 days ahead of schedule
Shanghai Composite Index Rose 0.84% on Wednesday
Shenzhen Component Index closed up 1.39%
Trending in China: Economist Says Printing Money Will Produce More Kids
Ren Zeping's proposal to put a price on solving China's falling birth rate problem triggered heated debate online
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