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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
Third Chinese Developer Gets Court Order to Liquidate Assets
Decision comes after Jiayuan, whose dollar bonds trade 10 cents on the dollar or less, lost a winding-up case in Hong Kong
Tech Insider: Tencent and ByteDance’s Virtual Reality Check, Alibaba Cloud Slashes Prices
China’s smart cockpit market predicted to nearly double in five years, Tesla opens some China charging stations to other brands
Shanghai Composite Index Rose 0.67% on Thursday
Shenzhen Component Index closed up 0.28%
CX Daily: Tencent, ByteDance Gut Metaverse Units in Virtual Reality Check
Xi affirms China’s commitment to restoring peace in Ukraine in a phone call with Zelenskyy. British Airways resumes service to China
Shanghai Composite Index Ended Nearly Flat on Wednesday
Shenzhen Component Index closed up 0.33%
Evergrande NEV Dumps Property Assets to Focus on Carmaking
Offloading predecessor company’s mostly health-related projects will get $3.6 billion of liabilities off the electric car unit’s balance sheet
CX Daily: BYD Gears Up for Global Electric Car Race
China-Brazil ties face "no constraints," Brazil’s foreign minister says. Evergrande’s offshore debt restructuring hits another barrier
Evergrande’s Multibillion-Dollar Offshore Debt Restructuring Hits Another Barrier
American law firm moves to organize opponents of a plan that emerged last month from an ad hoc group of bondholders to cut returns and extend maturities
Everbright Trust Unit Staffers Come Under Investigation
Multiple workers taken away by authorities in expanding probe of shanty town renovation projects, Caixin learned
Developer Sunac’s Stock Collapses as Trading Resumes After One-Year Suspension
Shares of the struggling former property highflyer fall 55% after it regained compliance with Hong Kong listing rules
Property Crisis Pummels Chinese Developers’ Bottom Lines
The grim 2022 earnings figures shed light on the severe challenges firms face, compelling them to find new growth areas
Goldman Sees ‘High-Return’ Potential in Chinese Property Bonds
‘Most of the defaults are done,’ Asia fixed-income chief says, suggesting that improving business prospects signal investment opportunities
Chinese-Owned Hong Kong Brokers Sink Into the Red Amid Offshore Bond Rout
The annual reports of seven listed securities firms show big losses from proprietary trading and a slump in the value of their securities holdings that include the dollar bonds of mainland property developers
Evergrande Signs Restructuring Agreement With Major Creditors
The property giant entered into three agreements with a group of investors holding its offshore notes
Global Creditors Face Long Fight With China Developers for Cash
Dollar bondholders’ efforts to get defaulters to pay up have been stymied by lengthy debt restructuring processes and litigation
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