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.
A woman rides a scooter past residential buildings at an Evergrande residential complex in Beijing (Reuters) - A Hong Kong court ordered the liquidation of…
(Reuters) -A Hong Kong court ordered the liquidation of China Evergrande Group on Monday. Evergrande is the world s most indebted real estate developer and .
A lawyer for embattled
property developer China Evergrande Group on Monday
sought adjournment of a Hong Kong court s hearing of a
liquidation petition, saying no creditors were actively
seeking a.
HONG KONG: China Evergrande Group on Monday said it has been granted an adjournment of a court hearing into a liquidation petition to Jan. 29, giving the embattled property developer time to finalise a revamped debt restructuring proposal.