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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: China Pushes LGFVs Beyond ‘Fake’ Transformation
Beijing’s regulatory tightening signals LGFVs will need to transition to creating real value through industrial investment
China Evergrande Liquidators Seek Over $2 Billion From Former Business Partners
Lawsuits target former associates of founder Hui Ka Yan over alleged unpaid funds and undelivered services
CX Daily: FAW-GAC Deal Tests a New Path for China’s Auto Consolidation
A proposed deal between state-owned carmakers FAW and GAC could offer policymakers a market-based model for restructuring the auto industry
Hong Kong Regulator Defends HK$1 Billion PwC Settlement Over Evergrande Audits
Official says deal carries risks but serves the public interest
Weekly Must-Read: Jeju Missing Persons Scandal Tests Seoul’s Criminal Justice Overhaul
An officer allegedly closed missing person cases using false safety checks, sharpening debate over police accountability as South Korea abolishes its Prosecutors’ Office
Seazen Sells Rare 100 Million Yuan Unsecured Bond
The Shanghai-listed builder cleared a 100 million yuan tranche at 7.8%, marking a rare breakthrough for private firms largely locked out of credit markets since 2021
CX Daily: Jeju Missing Persons Scandal Tests Seoul’s Criminal Justice Overhaul
An officer allegedly closed missing person cases using false safety checks, sharpening debate over police accountability
Evergrande NEV Abandons Car Manufacturing as Delisting Looms
The former electric-vehicle arm of China Evergrande has shifted to battery trading and technical services, reporting just seven employees, 205,000 yuan in cash and 32.7 billion yuan in liabilities
Caixin Explains: Why Insurers Are Getting a Share of China’s $45 Billion Capital Boost
Finance Ministry is giving three state-owned banks and five insurers fresh funding, aimed at building buffers against risks and supporting long-term investment
China Proposes Sweeping Insurance Law Overhaul to Tighten Shareholder Oversight
Draft revision would expand regulators’ powers to trace illicit capital, intervene earlier in troubled insurers and curb abusive ownership structures
CX Daily: Frenzied Land Bidding Returns to China’s Prime Cities, but Has the Market Hit Bottom?
Record auction prices in Shanghai and Beijing are reviving hopes of a property revival, even though the frenzy has been confined to prime parcels
Hong Kong Court Keeps PwC International in Evergrande Liquidators’ $8.6 Billion Lawsuit
Judge rejects bid by PwC’s global network entity to be removed from the case, allowing Evergrande liquidators’ claims against three PwC units to proceed
CX Daily: China Tech Firms Drive AI Data Center Boom in Southeast Asia
Chinese cloud companies are expanding across Southeast Asia as they seek a foothold in markets fast becoming central to the global AI race
Court Opens Bankruptcy Liquidation for Evergrande’s Main Onshore Arm
The judicial disposal of Hengda Real Estate Group Ltd. marks the final phase in resolving the collapsed property developer’s massive onshore liabilities
China Revokes Evergrande Life’s License Over Illegal Fund Use
The National Financial Regulatory Administration accused the insurer of illegally funneling funds to related parties, marking the final regulatory step following its 2023 state-backed takeover
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