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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: 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
CX Daily: Five Things to Know About China’s Humanoid Robot Poster Child
Unitree’s shares soared more than 600% in its Shanghai debut, riding a wave of investor enthusiasm for AI-powered machines
China Sentences Evergrande Founder Hui Ka Yan to Life in Prison for Massive Fraud
A Shenzhen court also levies massive fines against the developer’s main units for systematic fraud
Evergrande Liquidators Seek to Block $128 Million PwC-SFC Settlement
Liquidators say a HK$1 billion fund for minority shareholders could erode assets that should be preserved for creditors as they pursue a separate 57 billion yuan claim against the auditor
Cover Story: Unmasking the Architect of a Global Cybercrime Empire
Armed with multiple identities, Hu Xiaowei constructed an international network of businesses suspected of being used to launder the profits of Prince Group’s multibillion-dollar scams
Weekly Must-Read: Europe Fortifies Against China’s New Export Juggernaut
Desperate to protect its shrinking industrial base, the EU has unleashed tariffs and subsidy probes to blunt competition from Chinese advanced manufacturing and e-commerce giants
CX Daily: Men, AI and a Retail Revamp Drive Xiaohongshu’s Pre-IPO Pivot
The lifestyle platform known as RedNote is aggressively expanding its audience and tech capabilities ahead of a potential Hong Kong listing
Chinese Politburo Member’s Downfall Exposes Shadowy Network Tied to Evergrande, Vanke
A secretive developer flipped projects for billions and dumped toxic assets onto Vanke, contributing to the property giant’s massive losses
CX Daily: Repayment Question Looms as China Speeds Up Special Bond Issuance
Delegating approvals to provinces has accelerated fundraising, but a flaw in local government financing lingers
Rumors of Squatter ‘Occupying’ Evergrande’s London Mansion Debunked
Homeless man is merely camping outside the estate, sources say
CX Daily: Beneath the Sea, China Tests the Future of AI Power
As the AI boom drives a surge in electricity demand, Chinese tech hubs like Lingang are piloting underwater data centers
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