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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: Why Is China’s Powerful Export Engine Losing Steam?
China’s livestream platforms are ordered to stop minors tipping. AP exams are canceled in eight cities, leaving Chinese students in the lurch
Caixin China Biz Roundup: Evergrande Secures Six-Month Debt Extension
Property giant given time to avoid onshore default; Asian Games get postponed; and China’s infrastructure and industrial sectors get a major credit injection
Shanghai Composite Index Rose 0.09% on Monday
Shenzhen Component Index closed down 0.41%
Evergrande Dodges Onshore Default With Six-Month Debt Extension
Bondholders agree to delay payments due Friday as debt-laden real estate developer faces peak in obligations coming due amid restructuring effort
In Depth: Cutting the Ties That Bind Property Managers to Developers
China’s prolonged real estate slump drives a restructuring of the industry as management units break off links with their parents
CX Daily: Why Easing Policies Might Not Revive China’s Property Market Any Time Soon
Beijing urges Pakistan to bring the perpetrators to justice after three Chinese were killed in the South Asian country
China’s Cautious Banks and Bad-Debt Managers Urged to Come to Real Estate’s Rescue
The PBOC and banking regulator have instructed financial institutions to help distressed developers, including by purchasing their debts, sources say
In Depth: Why Easing Policies Might Not Revive China’s Property Market Any Time Soon
Sales remain weak despite authorities loosening monetary policy and making it easier to get a mortgage
In Depth: China’s Planned Revamp of Trust Bailout Fund Draws Questions
Industry insiders wonder which companies will benefit from the proposal to split the fund in two, as well as whether the new funding system is equitable
China’s Real Estate Woes Push Property Services Firm to Default on Dollar Bond
E-House fails to repay a $298 million bond due Monday after getting caught up in the financial troubles of several developers
Fisher: Uncertainty Is Sky-High, So Buy Stocks Before It Fades
The first-quarter fog will lift this year, catalyzing Chinese stocks’ long-awaited rebound
Weekend Long Read: Why China Needs Stimulus That Goes Beyond Infrastructure
Investments by the government that ignore boosting consumption and social security may not be effective in the long run
Kaisa in Strategic Agreement With State-Owned Builder and Bad-Debt Manager
Defaulted property developer to cooperate with Merchants Shekou Industrial and Great Wall Asset Management in real estate, tourism and other businesses
In Depth: China Turns to Credit Easing to Kick-Start Sluggish Economy
Credit demand has been declining while the rapid recovery from Covid-19 has begun to stutter
Macao Gambling Junket Operator Golden Group Shuts Down
Business run by Hong Kong’s billionaire ‘queen of shell companies’ joins growing list of enterprises closing in Beijing’s gambling crackdown
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