Blame for the property developer’s downfall has been placed on Chinese lending policies, but poor corporate oversight was hiding in plain sight.
Category: China Evergrande Group
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China Evergrande Gets Reprieve in Talks With Foreign Investors
A Hong Kong judge postponed deciding whether to force a liquidation of the property developer, which defaulted in 2021 on hundreds of billions of dollars in debt.
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China Evergrande May Finally Meet Its End in Hong Kong Court
A Hong Kong judge could set in motion the liquidation of the property developer, which was once considered one of China’s most successful companies.
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China Wants to Bulldoze ‘Urban Villages’ to Revive the Economy
The halting revitalization of one “urban village” in Shenzhen shows the challenges of fixing a national property crisis after years of overborrowing.
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Country Garden Says Executives Have Not Fled China
The company, one of China’s biggest property developers, took the unusual step of stating that the company’s founder and its chairwoman were “working normally.”
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China Bet It All on Real Estate. Now Its Economy Is Paying the Price.
After relying on a borrow-to-build model for decades, Beijing must make difficult choices about the country’s housing market and economic future.
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China Evergrande’s Founder: The Rise and Fall of Hui Ka Yan
Hui Ka Yan, who grew up poor in the countryside, was a symbol of China’s economic rise. With Evergrande teetering, his future is uncertain, too.
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China Evergrande’s Problems Are Only Getting Worse
The Chinese property developer’s efforts to restructure more than $300 billion in debt are being complicated by criminal investigations into current and former executives.
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How China’s Property Crisis Is Testing Its Too-Big-to-Fail Banks
Banks hold enormous amounts of real estate debt, and regulators are nervous. But a fast-moving crisis is unlikely because the government has extensive control of the system.
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China Evergrande Suspends Trading as New Trouble Roils Property Market
The real estate firm halted critical work to settle its debts and investors dumped their stock amid news executives were under suspicion by the authorities.
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Country Garden, China’s Indebted Developer, Meets Payment Deadline
The embattled Chinese property giant is said to have avoided default by meeting a deadline to pay interest on small loans. But it must repay billions within the next year.
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China’s Property Crisis Is Rippling Through the Economy
As a real estate meltdown ripples through the economy, small businesses and workers are owed hundreds of billions of dollars, and new projects have dried up.