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Evergrande is the world's most indebted real estate developer and has been at the centre of an unprecedented liquidity crisis in China's property sector, which accounts for roughly a quarter of the world's second-largest economy. Once China's top-selling developer, Evergrande's financial crisis became public in 2021 and since then it and a string of its peers have defaulted on their offshore debt obligations amid slowing home sales and fewer new avenues for fundraising, triggering fears of wider contagion that could spread to the country's banks. China's central bank and banking watchdog summon senior executives and issue a rare warning that Evergrande must reduce its debt risks and prioritise stability.

Hong kongHui ka yanKane wuSumeet chatterjeeRoxanne liuXie yuLiu yongzhuoKim coghillClare jimA hong kongEvergrande property servicesHengda real estate groupHong kong high courtChina national administration of financial regulationChina construction bank asiaChina evergrande group on