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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.
Cover Story: How Evergrande Could Turn Into ‘China’s Lehman Brothers’
Collapse of China’s ‘too big to fail’ property development giant could involve $309 billion of debt and set off a financial tsunami affecting millions of people
After String of Scandals, China Tightens Control Over Major Shareholders in Banks, Insurers
New regulations aim to stop big investors using institutions as ATMs to benefit their own businesses
Wang Tao: Evergrande’s Emerging Spillover Effects on China’s Property Market
Real estate makes up too big a share of household wealth for home prices to plunge without the government offering policy support
Shanghai Composite Index Rose 0.4% on Friday
Shenzhen Component Index closed up 0.52%
China’s Central Bank Keeps Status Quo on Liquidity With Policy Loan Rollover
PBOC injects 500 billion yuan into the financial system through its medium-term lending facility, matching the amount maturing
Evergrande Hit to Chinese Lenders Is Manageable, Moody’s Says
Global credit rating company finds that while banks’ direct exposure is limited, fallout from the property giant’s crisis could trigger deterioration for the real estate sector
In Depth: The Wild West of China’s Bond Market That Regulators Want to Tame
Authorities are trying to fix the problems that have made it difficult to correctly value junk bonds, including inflated ratings, implicit government guarantees and the ongoing issues with structured issuances
Moody’s Predicts Economy-Rattling Drop in Land Sales Revenue for Local Governments
A decline next year in one of the largest sources of income for local governments could put a dent in growth as officials struggle to make ends meet
China’s Credit Growth Slows on Weakening Corporate Demand
September financing of $450 billion missed analysts’ estimates amid spreading default risks and tightened control over real estate industry
Shanghai Exchange Resumes Syngenta’s $10 Billion IPO Review
Proceedings for what could be the world’s largest listing this year were suspended last month pending updated earnings information
Chinese Developer Sinic Warns of Default as Hidden Risks Mount
Likely missed payment of $250 million bond due Oct. 18 adds to wave of defaults in real estate industry under shadow of Evergrande
Caixin-Sinica Business Brief: China Eyes Entry Into Pacific Trade Pact
Plus, the causes of the power shortages; U.S. and Chinese trade chiefs hold online meeting; and concerns over contagion from the Evergrande crisis loom
Syngenta $10 Billion China IPO Plan Paused for Earnings Data
Company has furnished the Shanghai exchange with the requested documentation, and an update on its listing timeline is set to be given this week, a source says
Evergrande NEV Vows to Deliver Electric Cars Early Next Year
Unit of troubled property developer makes pledge at Tianjin plant meeting with officials of Bosch, Hitachi and other strategic partners
Faraday Future Responds to Short-Seller Attack It Calls ‘Misleading’
Report alleges that the electric-vehicle company will indefinitely delay its 2022 mass production target because ‘three recent visits to the factory showed little activity’ and engineering problems remain unsolved
Northeastern City Tries to Warm Up Quickly Cooling Property Market
Analysts say measure in Harbin could herald similar actions by other local governments
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