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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
CX Daily: Beneath the Sea, China Tests the Future of AI Power
As the AI boom drives a surge in electricity demand, Chinese tech hubs like Lingang are piloting underwater data centers
Evergrande Property Services Stake Sale Collapses, Sending Shares Down 24%
Liquidators failed to reach a formal agreement with a prospective buyer for the 51% holding, derailing an effort to raise funds for creditors
CX Daily: As Retired Battery Wave Approaches, China Moves to Clean Up Recycling
A flood of new entrants chasing a still-scarce supply of spent power cells has left the industry fragmented and largely unprofitable
China Evergrande Liquidators Seek to Block $128 Million PwC Payout
Hong Kong securities regulator’s settlement unlawfully prioritizes shareholders over creditors, liquidators argue
China Soccer Crackdown Brings Lifetime Bans for Former Club Executives
Authorities have been trying to clean up Chinese soccer after a corruption scandal that toppled senior administrators and former national-team coach Li Tie
CX Daily: How the Gree Windfall Got Squandered
After the city of Zhuhai sold its economy’s crown jewel, the state-capital binge that followed produce some unwelcome consequences
China Evergrande Liquidators Sue PwC for $8.4 Billion Over Audit Work
Case could test liability boundaries for global audit networks
In Depth: How the Gree Windfall Got Squandered
After the southern Chinese city of Zhuhai sold its economy’s crown jewel, the state-capital binge that followed produced immense debt, a string of troubled acquisitions and a retreat from the promise of a new industrial era
CX Daily: How Some Chinese Banks Ended Up in a Property Purgatory
Amid the property slump, many lenders have found themselves saddled with distressed assets almost no one wants
State-Linked Property Deals Tied to Evergrande Face Scrutiny
Sources say former Citic Land Chairman Hu Donghai was taken away by authorities in a case that could involve projects later sold to Evergrande
Analysis: Why China’s Rating Agencies Can’t Stop Inflating Grades
Regulators are pushing to tighten oversight, but without a functioning high-yield market, investment-grade ratings remain a financing necessity
CX Daily: When AI Spends, Card Networks Scramble to Keep Payments Safe
Artificial intelligence (AI) is no longer limited to answering questions — it is ordering bubble tea, booking flights and buying insurance. As AI agents increasingly act as autonomous personal shoppers, the volume and value of the transactions they execute are surging
HKEX Shareholders Back KPMG as Auditor, Ousting PwC After Evergrande Fallout
Audit change underscores mounting pressure on PwC Hong Kong following regulatory penalties and client departures
CX Daily: PwC’s Evergrande Crisis Deepens With Record Hong Kong Settlement and Criminal Probes
China Evergrande Group’s financial fraud has caught up with PricewaterhouseCoopers in Hong Kong, dealing an unprecedented blow to the accounting giant and deepening an accountability crisis that threatens its future in the region
In Depth: PwC’s Evergrande Crisis Deepens With Record Hong Kong Settlement and Criminal Probes
The accounting giant faces a HK$1 billion investor-compensation fund, a separate HK$300 million fine and mounting scrutiny of partners tied to the developer’s audits
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