Evergrande crisis
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Evergrande crisis

Evergrande crisis
Evergrande crisis
Latest news and analysis about the China Evergrande Group, the world’s most indebted property developer. Fears are rising about Evergrande’s ability to repay its cascading pile of debt against the backdrop of muted property sales in mainland China and efforts by Beijing to rein in the property sector in the past year.
People pass by half-finished buildings in Beijing. China’s property market has been mired in a downturn since 2021. Photo: EPA-EFE
China's economic recovery

No ‘piecemeal’ steps: Chinese journal urges more support for property sector

Top Communist Party journal calls on officials to roll out a stronger policy package in one go, rather than following ‘piecemeal-style’ approach.

China consumption

China vows city-specific fixes to clear housing glut, stabilise property sector

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China property

China Vanke wins bondholders’ reprieve, averts default for now

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China property

China Vanke’s managers have no plans to sell shares as firm fights for survival

Vanke, responding to queries from investors, says top managers have not notified it about their intentions so far.

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Vanke said it had completed 19 bulk asset transactions in the first three quarters of this year totalling 6.86 billion yuan. Photo: Reuters
China property

Shanghai launches clampdown on property market doom-mongering

City’s internet regulators shut down 70,000 accounts in a ‘special campaign’ against pessimistic content as real estate jitters continue.

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China property

As I see it | China’s extended property slump was always expected

History has shown that when real estate bubbles burst, the economic damage is usually severe and prolonged.

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China Evergrande Group

Evergrande’s iconic Canadian hotel to be sold after default

Fairmont Le Chateau Montebello has hosted luminaries including Grace Kelly and Margaret Thatcher.

A view of the Fairmont Le Chateau Montebello historical site and park in Quebec, Canada. Photo: Shutterstock
China property

China’s property slump could hinder growth 5 more years: ex-finance minister

Lou Jiwei says real estate is an unlikely source of systemic risk, but proactive policy is necessary to counteract its drag on the economy.

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China property

Evergrande liquidators set month-end deadline for bids on property services unit

Liquidators caution that the sale of Evergrande Property Services is at a preliminary stage and many of the details have yet to be finalised.

China property

Developer China Vanke reports US$2.3 billion loss amid sales slowdown

Persistent property-market weakness ratchets up pressure on the developer despite increased support from its largest state-owned shareholder.

A man stands outside the construction site of a residential complex being built by Chinese real estate developer Vanke in Nanjing, in eastern China’s Jiangsu province, on February 13, 2025. Photo: AFP
China property

Chinese developer’s property management arm hit by share seizure in Hong Kong

More than 72 per cent of Redsun Services Group’s shares are seized as Chinese developer’s debt woes deepen after defaulting on a pledge.

The seizure has “no significant impact” on the business operation, financial conditions and solvency of the company, according to Redsun Services Group. Photo: Handout
China property

China’s property market poised to decline at least through 2026: S&P analyst

Nationwide primary property sales are expected to fall 8 per cent in 2025 and between 6 to 7 per cent in 2026.

China's economic recovery

China’s micro-drama craze turns idle real estate projects into lavish film sets

The fast-growing entertainment sector brings life to vacant buildings, but industry insiders say the broader impact remains limited.

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China property

Hong Kong court names Evergrande’s liquidators as receivers of founder’s assets

‘There is a total failure on the part of Hui to comply with the disclosure order,’ writes Justice Herbert Au-yeung Ho-wing.

Hui Ka Yan of China Evergrande. Photo: AFP
China Evergrande Group

Editorial | Evergrande delisting brings painful economic chapter to a close

The move comes at the right time as the Hong Kong stock exchange must maintain the integrity of listed companies and its own credibility.

An unfinished residential compound developed by China Evergrande Group is seen on the outskirts of Shijiazhuang, Hebei province, on February 1, 2024. Photo: Reuters
China property

Hong Kong developer Road King defaults on debt payments

Listed firm suspends nearly US$80 million in interest payments and distributions while seeking restructuring discussions with creditors.

China property

4 years after Evergrande crash, Chinese families still stuck in ‘broken houses’

China’s faltering property sector continues to be a drag on consumption, with much of middle class wealth stored in homes that have not regained value.

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China Evergrande Group

Liquidators hire UBS and Citic to sell Evergrande’s property services unit

Court-appointed liquidators are working with UBS Group and Citic Securities to seek potential buyers for the subsidiary, Evergrande Property Services Group.

A residential property project by China Evergrande Group in Nanjing, the provincial capital of Jiangsu in eastern China on December 30, 2023. Photo: Getty Images
China Evergrande Group

Evergrande delists from HKEX in milestone for China’s property crisis

The delisting of other struggling Chinese property developers might follow, according to Kaiyuan Capital’s Brock Silvers.

China’s economic stimulus

New committee, bailout talk: is China launching a fresh property rescue effort?

China’s central bank has set up a new ‘financial stability committee’ and pledged to defuse risks in key regions and institutions.

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China property

China Evergrande nears delisting as 18-month suspension deadline expires

Trading in the company’s shares has been suspended since January 29, 2024, after a Hong Kong court ordered its liquidation.

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The Evergrande Center building in Shanghai. Photo: AFP
China property

Cifi creditors approve US$7.9 billion offshore debt restructuring plan

The group’s offshore debt obligations will decrease by around US$5.3 billion, or 66 per cent of the total, according to the company.

The headquarters of Cifi Holdings in Shanghai. Photo: Handout
China Evergrande Group

Evergrande chairman Hui Ka-yan refuses to disclose assets, liquidators say

Hui expressed his intention to the court on April 23 that he would not be disclosing his assets, a lawyer for the liquidators said.

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China property

Hong Kong court grants Sunac until August to finalise restructuring plan

Sunac’s financial adviser told creditors last week that the firm expects to complete its restructuring by the end of 2025 or early next year.

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China property

China’s Sunac reaches deal with key creditors on offshore debt revamp plan

Two groups of creditors, holding about 26 per cent of Sunac’s existing debt, could choose to receive two types of mandatory convertible bonds.

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Sunac faces a liquidation hearing in Hong Kong on April 28 for non-payment of a US$30 million loan to China Cinda HK Asset Management. Photo: Reuters
China property

Country Garden: restructurings covering at least 8 bonds get creditor approval

Country Garden gets approval for restructuring eight bonds, making progress in its debt-management plan.

A person rides past a Country Garden construction site in Tianjin, China. Photo: Reuters
Banking & finance

China property crisis still a key signal for junk bond market, Pimco says

China’s crisis reinforces what Pimco has known for a long time, which is that property bubbles are dangerous, whether they are in China or elsewhere.

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China property

Sunac China warns of US$3.6 billion loss as housing slump crimps sales

Wider losses in 2024 partly due to smaller one-off gain from onshore debt restructuring exercise compared with a year earlier.

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