Chinese property giant Evergrande's shares plunged Thursday after resuming trading in Hong Kong, with the failure of a unit sale deal deepening fears the indebted firm will collapse and send shockwav…
The Chinese property company Evergrande could default on US$19 billion of international market bonds on Monday. If it does it would be the biggest default ever. 21.10.2021, Sputnik International
The Hong Kong-listed stock dropped by as much as 14 per cent at the end of a two-week trading suspension, put in place pending an offer for a 50.1 per cent stake in its property services arm.
From rural poverty to real-estate billions, the fortunes of Xu Jiayin mirrored China's runaway economic growth for much of the past two decades but now he is battling to save his Evergrande conglomerate from a quagmire of debt. The 63-year-old was once China's richest man, with a taste for luxury labels and yachts, and a nose for praising the Communist Party that steered