‘Surprise to us’: Chinese giant that owes billions saved from collapse by shock decision
Property giant China Evergrande was not expected to see out the day, having defaulted on billions of dollars of debt. But then it..
Sydney Morning Herald
Evergrande Group
Chinese property development company
The China Evergrande Group is a Chinese property developer, and the second largest in China by sales. It is incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai Financial Center in Nanshan District, Shenzhen, Guangdong Province, China. It was founded in 1996 by Hui Ka Yan. It sells apartments mostly to upper- and middle-income dwellers. In 2018, it became the most valuable real estate company in the world, but by 2021 it had collapsed financially and started the 2020–2023 Chinese property sector crisis.
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