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

02 04, 2023 17:44 PM

Fugitive Hong Kong Mogul Auctions Up to $2 Million in Luxury Handbags

Joseph Lau Luen-hung is selling 77 rare Hermès bags in the largest single-owner handbag sale ever held in Asia, according to Sotheby’s

01 23, 2023 18:32 PM

Developer Oceanwide and Tycoon Lu Zhiqiang Sued in $1 Billion Loan Dispute

China Minsheng Bank is pursuing the firm and its de facto controller for billions of yuan in unpaid debt that they guaranteed

01 20, 2023 09:47 AM

CX Daily: The Questions Hanging Over Ant Group

Yin Yong is appointed as Beijing mayor. A cancer collaboration becomes the first overseas data transfer approved under the new regime

01 19, 2023 14:02 PM

Evergrande Chairman’s Fortune Collapses 93% to $3 Billion

Once the second-richest person in Asia, property tycoon Hui Ka Yan’s net worth plunged from $42 billion as his property empire became the biggest casualty of the nation’s credit crunch

01 18, 2023 10:09 AM

CX Daily: Liu He Says China’s Economy Will Get Back to Normal in 2023

China posts its second-slowest economic growth in more than four decades. Plus, Didi gets the green light to sign up new users

01 17, 2023 13:34 PM

Evergrande Says PwC Resigns After 2021 Audit Disagreements

In its Jan. 16 resignation letter to the embattled Chinese property firm, the auditing giant noted it still hadn’t received information relating to ‘significant matters’ of the audit

01 13, 2023 20:48 PM

Chinese Property Firms Left in the Dark About Who Can Qualify for Credit Support

The PBOC and the CBIRC reportedly created a list of developers that made the cut, but many companies say they don’t know anything about it

01 10, 2023 20:58 PM

Chinese Developers Face $141 Billion Wall of Maturing Bonds in 2023

Default risks remain despite government measures to ease financing pressure, property consultant warns

01 07, 2023 18:17 PM

Chinese Property Developers Get Year-End Financing Boost, Consultancy Says

The top 100 companies saw financing jump almost 85% in December as the government relaxed curbs to ease a liquidity crunch, according to CRIC

01 05, 2023 10:19 AM

CX Daily: Debt-Plagued Local Financing Vehicle in China Gets ‘Unprecedented’ Extension to Repay Loans Within 20 Years

Net rental growth of prime office space in Guangzhou slips into reverse for the first time in a decade. The country’s box office bombs

01 04, 2023 05:14 AM

Evergrande Vows Debt Payment After Restructuring Delay

In New Year’s letter to employees, billionaire Chairman Hui Kan Yan reports resumed construction on 732 real estate sites

01 03, 2023 20:28 PM

Year in Review: China’s Property Market at a Turning Point

The government began last year to ease up on a clampdown that upended the industry, but developers won’t be able to rely on the business model of the past

12 30, 2022 11:16 AM

Weekly Must-Read: After China’s Covid U-Turn, A ‘Tsunami’ of Infected Strip Bare Pharmacy Shelves

The wave of infections raging across the country has led to a rush on common drugs such as ibuprofen, but supplies remain scant, at least for now

12 26, 2022 15:03 PM

Shanghai Composite Index Rose 0.65% on Monday

Shenzhen Component Index closed up 1.19%

12 23, 2022 15:03 PM

Shanghai Composite Index Fell 0.28% on Friday

Shenzhen Component Index closed down 0.25%

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