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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
Shanghai Composite Index Ended Nearly Flat on Tuesday
Shenzhen Component Index closed up 0.67%
CX Daily: China’s ‘Zero-Covid’ Looks Done. So, What To Expect Next?
More regions in China ease coronavirus testing requirements. The country’s services activity contracts for a third straight month, Caixin PMI shows
Shanghai Composite Index Rose 1.76% on Monday
Shenzhen Component Index closed up 0.92%
China Oceanwide Has Potential Buyer for $1.2 Billion LA Project
After spending $3.5 billion on U.S. projects, the company has battled to recoup its overseas outlays and revive its mainland China operations
Reports of the Death of Hui Ka Yan May Have Been Greatly Exaggerated
Evergrande insiders and external sources deny online rumors that the developer’s billionaire founder and chairman committed suicide
Cash-Strapped Evergrande Offloads Vacant HQ Plot for $1 Billion
The defaulted property giant had intended to build its Shenzhen headquarters on the 10,000-square-meter plot, which has been sitting idle since September 2021
Cover Story: China Lines Up Yet More Aid for the Property Sector, But Will It Be Enough? (Part 1）
New round of policy measures to support beleaguered developers is imminent, as Beijing seeks to check a protracted downturn, Caixin has learned
Weekly Must-Read: China’s Halting Steps to Dial Back ‘Zero Covid’
As central authorities cite scientific evidence for easing travel and testing rules, local officials worry about being held accountable for new outbreaks
Henan City Buys 1,050 Evergrande Flats for Affordable Housing
Purchase by city of Kaifeng aims to expand local subsidized housing supply while bolstering the ailing property market
China’s Efforts to Prop Up Property Market Fall Short
Combined sales of the country’s 100 largest developers in October fall 28.4% year-on-year to $77 billion
China Builder Sunac’s Winding-Up Case Adjourned for Seven Months
The lawsuit was filed by a creditor allegedly owed $22 million in principal plus interest on senior notes
China’s Super Rich Are Poorer, and There Are Fewer of Them
Economic vicissitudes of war, pandemic and slumping stock and real estate markets shrink fortunes of billionaires on Hurun Rich List
CX Daily: The Dilemma of China’s Power Market Restructuring
Xi repeats China’s commitment to its opening-up policy. Beijing shames local authorities for “one-size-fits-all” Covid control policies
One of China Evergrande’s Creditors Sells Hong Kong Plot for $637 Million
The tract of undeveloped residential real estate was pledged by the property giant’s subsidiaries as collateral for a loan last year
Caixin-Sinica Business Brief: Chinese Miners Ordered to Divest From Canadian Lithium Projects
Plus, Chinese bank moves to recoup billions of unpaid Evergrande loans, and how Apple supplier Foxconn is trying to stop workers from fleeing Covid lockdown
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