Bondholders for one of China’s biggest real estate developers extended a grace period to negotiate a delayed repayment of a $285 million bond.
Category: China Evergrande Group
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5 Years On, China’s Property Crisis Has No End in Sight
The government had set out to slow speculation, kicking off a slowdown in real estate values that is still grinding on with wide economic consequences.
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This Is the End of China’s Once Mightiest Property Firm
China Evergrande, set to be delisted from the Hong Kong Stock Exchange on Monday, leaves behind a giant pile of debt and long line of desperate creditors.
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China Vanke Forecasts $6.2 Billion Loss, Replaces Top Executives
China Vanke, one of the country’s largest developers, cleared out its top executives and said it anticipates a $6.2 billion loss, a sign the property meltdown is still raging.
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China Fines PwC $62 Million for Botching Its Work for Evergrande
The authorities also imposed a six-month suspension on the local operations of the global firm, which was once one a dominant auditing firm in China.
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China Has a Plan for Its Housing Crisis. Here’s Why It’s Not Enough.
A new approach by China’s top leaders is bold but pales against the problem: a vast number of empty apartments no one wants to buy.
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China Evergrande Founder Accused of Exaggerating Revenue by $78 Billion
China’s securities regulator fined the developer’s founder, Hui Ka Yan, and banned him from participating in the country’s financial markets for life.
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China’s Country Garden Faces Winding Up Petition In Hong Kong
Country Garden was once China’s biggest developer but ran out of money. A lender is taking it to court in Hong Kong, a sign of continuing market distress.
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After China Evergrande, Real Estate Crisis ‘Has Not Touched Bottom’
The forced liquidation of China Evergrande epitomizes the sector’s struggles: Nationwide, sales are down and millions of homes have been paid for but not delivered.
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What Evergrande’s Collapse Might Mean for the Global Economy
The long-embattled property developer was finally ordered to liquidate. What comes next will test Western companies’ appetite to keep operating in China.
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China Evergrande Must Be Liquidated, a Judge Said. What Happens Next?
The massive property developer epitomized China’s real estate frenzy, and its downfall fueled the market’s downturn.
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Real Estate Giant China Evergrande Will Be Liquidated
After multiple delays and even a few faint glimmers of hope, a Hong Kong court has sounded the death knell for what was once China’s biggest real estate firm.