Tag: evergrande

Property-Developers-in-China-pressured-with-pending-wage-dues-and-bond-payments
Chinese Real Estate Firms Pressured With Pending Wage Dues and Bond Payments
Property developers in China are facing a tough time financially. Many are unable to pay their suppliers and contractors, putting existing and future projects in limbo. Some are not in a position to pay off...
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7 Ways China Is Destroying Its Own Economy
News analysis In 2021, China’s economy finds itself in chaos. According to its National Bureau of Statistics, China’s GDP grew by 18.3 percent in the first quarter, 7.9 percent in the second quarter, and fell...
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Evergrande Fails to Make Overdue Coupon Payments for Bondholders
Chinese real-estate developer Evergrande failed to provide coupon payments to offshore bondholders after a 30-day grace period concluded on Tuesday, Dec. 7, according to several people with knowledge of the issue. With millions of dollars...
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Premier Li Keqiang Asks Officials to Avoid Communist-style ‘Bureaucratism’ as China’s Economic Crisis Worsens
News analysis At a recent meeting in Shanghai, China’s number two statesman provided provincial leaders with the latest instructions on economic policy and social development, while indicating the severity of the country’s economic situation.  Speaking...
A woman bends through a hole in the billboard of the Evergrande Wuhan culture-oriented travel city on October 18, 2021 in Wuhan, Hubei province, China. Evergrande, China's largest property developer, is facing a liquidity crisis with total debts of around $300 billion.
Property Crisis Forcing Chinese State Companies Into Greater Involvement in Land Auctions
The property crisis in communist China is compelling state-owned developers to play a major role at land auctions to rescue financially stressed out local governments. Auctioning land is a major source of revenue for local...
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UBS Fund Managers Resign Amidst China’s Property Crisis
The ongoing property crisis in China is pushing many investors into losses. A US$3 billion fund at UBS Group that invested in high-yield bonds in China has been caught in the country’s property meltdown. Two...
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China Dismantling Evergrande From Within to Avoid Worst Case Scenario
China’s Evergrande Group, with on the books liabilities in excess of US$300 billion is on the brink of collapse. It’s collapse would have disastrous and far reaching consequences for both the Chinese economy and the...
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Beijing Asks Evergrande Founder to Use His Money to Pay Back Company Debts
Chinese authorities have asked the founder of Evergrande, billionaire Hui Ka Yan (also known as Xu Jiayin), to tap into his personal wealth to pay back some of the debts of the company. Evergrande has...
Housing prices in many provinces in China have recently declined.
Housing Prices Fall in Chinese Provinces, Sector in Trouble
Many Chinese provinces are witnessing a decline in housing prices, something that has happened for the first time in six years. Out of the 31 provincial-level divisions, 16 recorded a fall in housing prices in...
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China’s Third Quarter GDP Falls Below Expectations, Weakest Growth Rate in a Year
China released its third-quarter GDP numbers and the results are lower than market expectations. According to data from the National Bureau of Statistics (NBS), China grew by just 4.9 percent in Q3, its weakest growth...
China's real estate sector has been under enormous financial stress.
Chinese Developers Showing Sign of Weakness Amidst Evergrande Crisis
For the past few months, Chinese real estate firm Evergrande has been one of the focus points of the international investment community. The company has taken more than $300 billion in debts and is now...
Evergrande Crisis Could Cause a Damaging Domino Effect While Powerful CCP Families Profit
On Sep 22, in an attempt to assure concerned western investors, the Evergrande Group announced that it will pay RMB$232 million (US$35.9 million) in interest on bonds due in September 2025 with a coupon rate...