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Evergrande Crisis

China Evergrande Crisis News - Caixin Global

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

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09 28, 2022 18:51 PM

Top Stories of the Month: China’s Mortgage Boycott Epicenter Gives Developers an Ultimatum

Local governments in China have been making efforts to jump-start the country’s flagging real estate sector

09 23, 2022 14:59 PM

Few Chinese Developers Qualify for New Bond Guarantee Program, Industry Sources Say

While the pilot could provide a short-term lifeline for some, it’s uncertain how many private property companies have the required collateral

09 17, 2022 18:32 PM

Shenzhen Sets Up Platform to Help Cash-Strapped Developers Finish Stalled Projects, Sources Say

Shenzhen Anju Jianye Investment Operation won’t inject funds to restart construction, but will instead help facilitate additional loans

09 16, 2022 17:30 PM

China’s Housing Prices Slump for a Year as Crisis Drags On

New-home prices in 70 cities fell 0.29% last month from July, official data showed

09 16, 2022 16:12 PM

Weekly Must-Read: China’s War on Rampant Telecom Scams

A new law gives authorities powerful new weapons to help prevent millions of people from losing billions of dollars to cellphone and internet fraud

09 14, 2022 08:00 AM

CX Daily: Ant Group Rebuilds for Regulators, but at What Cost?

Xi will make his first foreign trip since the Covid-19 pandemic began

09 14, 2022 04:56 AM

Evergrande Hong Kong Headquarters Building Seized by Creditor

Citic Bank exercises lien over unpaid loan of almost $1 billion after the world’s most indebted developer tried to sell it for twice that amount

09 13, 2022 16:45 PM

Evergrande Vows to Resume All Projects to Allay Boycott Concerns

The deeply indebted builder says it will restart construction on the last 38 stalled developments by the end of September

09 09, 2022 09:29 AM

CX Daily: How China Is Trying To Get Debt Dodgers To Pay Up

Record numbers apply for China’s teachers exam amid a bleak job market. The Hong Kong Stock Exchange considers speeding up reviews for homecoming listings

09 08, 2022 04:46 AM

Evergrande Exits Shengjing Bank in $1.05 Billion Forced Sale

Funds from auctioning off 14.57% stake go to pay off debt and bring down the curtain on a controversial investment

09 08, 2022 04:07 AM

China Builder Sunac Gets Liquidation Petition as Pressure Mounts

Creditor files motion with Hong Kong court as the embattled property developer struggles to restructure debt

09 07, 2022 07:32 AM

Distressed R&F Dumps Beijing Hotel at a Loss

Transaction raises $79 million for the cash-strapped developer to apply to its looming $12 billion of debt coming due within a year

09 01, 2022 20:55 PM

China’s Property Sales Extend Slump Amid Vicious Cycle

Total sales at the top 100 developers fell 32.9% to $75 billion in August

08 31, 2022 19:06 PM

Opinion: Evergrande Offshore Bondholders Must Think Carefully About Their Own Exposure

Bondholders ought to take into account the recent rulings of the Hong Kong court to determine the merits of their claim, specifically compared to their envisioned recovery under a traditional restructuring

08 31, 2022 16:35 PM

Chinese Property Giants See Fortunes Diverge During Crisis

Country Garden posted a record 96% drop in profit, while its biggest rival Vanke reported an 11% increase in net income

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