Tag: Evergrande

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Evergrande faces fresh debt deadline as property market woes widen

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Financial markets were braced for more bad news about the shaky Chinese property market as struggling giant Evergrande looked set to miss a fresh round of debt repayments worth $148m, and another developer pleaded for...

Shares in China property giant Evergrande suspended pending ‘major transaction’

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Trading in shares of debt-laden China Evergrande was suspended by the Hong Kong exchange on Monday after the enormous Chinese developer missed a key bond interest payment last week, its second offshore debt obligation...

How fall of property giant Evergrande sent a shockwave through China

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In May 2020, Chen (not his real name) decided to invest 300,000 yuan (£34,000) in property in the north-eastern Chinese city of Shenyang. “I thought the price was not too expensive and I had some extra money so I inve...

Evergrande: will it collapse and what would happen if it did?

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Evergrande Real Estate – or Heng Da Group in Chinese – owns more than 1,300 building projects in more than 280 cities across China. Founded by the former Chinese steel executive Xu Jiayin in southern China in 1996, ...

Shares in China’s Evergrande plunge again as fears of contagion grow

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Shares in the embattled Chinese property company Evergrande have plunged 17% as investors weigh up whether the group’s massive debt problems could trigger a broader sell off across all financial markets. Evergrande p...

‘China’s Lehman Brothers moment’: Evergrande crisis rattles economy

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The crisis engulfing Evergrande, China’s second-biggest property company, is the greatest test yet of President Xi Jinping’s effort to reform the debt-ridden behemoths of the Chinese economy. It could also be the most...

Evergrande crisis and record energy prices weigh on markets – business live

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Rolling coverage of the latest economic and financial news

China property giant Evergrande admits debt crisis as protesters besiege HQ

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Property giant China Evergrande Group has said that it cannot sell properties and other assets fast enough to service its massive $300bn debts, and that its cashflow was under “tremendous pressure”. Only hours after a...

Evergrande investors face 75% hit as company edges closer to restructure

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The troubled Chinese property group Evergrande has edged closer to a government-engineered restructuring which could see bondholders take huge losses as Beijing’s price for saving millions of homeowners from financial...

China property market rocked as giant Evergrande struggles to repay $300bn debts

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Shares in the embattled Chinese property giant Evergrande have slumped again after two credit downgrades in two days amid concerns that it will default on its massive $300bn debt pile. Evergrande, which is one of the ...