Shares in embattled Chinese property developer Evergrande have fallen almost 80% in their first day of trading in Hong Kong for a year and a half. The shares have lost more than 99% of their value in the past three years as Beijing cracked down on property firms.
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China's second largest property developer, Evergrande, is at risk of financial collapse, saddled with billions of dollars of debt. It's already defaulted on some bond repayments and has been forced to sell off assets; both Chinese and international investors are worried and Beiji ... Show More
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A Threat to China’s Economy
Every once in a while a company grows so big and messy that governments fear what would happen to the broader economy if it were to fail. In China, Evergrande, a sprawling real estate developer, is that company.Evergrande has the distinction of being the world’s most debt-saddled ... Show More
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