Monday, May 27, 2024

Tag: Evergrande

China's Evergrande Group, previously the second-largest property developer in the country, declared bankruptcy in New York on Thursday. The company faced significant financial troubles and defaulted on its debt...
The Evergrande debt crisis is the ongoing financial situation of Chinese property developer Evergrande Group. After a letter circulated online of the company informing the Guangdong government that it was at risk of a cash crunch, shares in the company plunged in value, with impacts on global markets and a significant slow-down in foreign investment in China during August and September of 2021.