News Analysis Evergrande’s spiraling debt crisis, and the global unease its woes have fomented, are largely due to mismanagement and deceptive practices on the part of Chinese Communist Party (CCP) leadership who have pursued policies without regard for the complex interplay of market forces in Asia, according to observers. Any attempt to chart a way…
CCP Mismanagement to Blame for Evergrande Crisis, Business Experts Say
China’s Modern Land Misses Bond Payment, Property Shares Drop
HONG KONG/SHANGHAI—Modern Land missed a bond payment, the latest Chinese property developer to do so, adding to worries about the wider impact of the debt crisis at behemoth China Evergrande Group, and dragging on shares in the sector. Modern Land (China) Co., Ltd. said in a filing that it had not repaid principal and interest…
Evergrande Crisis Could Be a Canary in the Coal Mine
News Analysis As China’s real estate behemoth Evergrande, saddled with $300 billion in liabilities, dances ever closer to a default, questions about the health of the broader domestic property market have been thrown in sharp relief. Property and Economic Slowdown Recent data has confirmed Evergrande’s debt crisis has sent jitters through China’s property market. Home…
China’s Debt-Ridden Evergrande Resumes Work on More Than 10 Property Projects
BEIJING—China Evergrande Group said on Sunday it had resumed work on more than 10 projects in six cities including Shenzhen—a statement that comes after it appeared to avert default with a last-minute bond coupon payment last week. Evergrande, deep in crisis with more than $300 billion in liabilities, has not disclosed how many of its…
Evergrande: The End of China’s Economic Growth?
Chinese property developer Evergrande is collapsing. But its problems are just the tip of the iceberg. What lies under the water is the now-shaky pillar of the Chinese economy—real estate. What ugly truth is the Evergrande drama revealing about China’s so-called “economic miracle”? Does China have the tools in its arsenal to keep the growth…
China’s New Home Prices Fall, Signalling Market Cooling
China’s home prices fell for the first time in six years in September amid a home sales slump and developer debt crises, casting shadows on the country’s weakening economic growth. China’s average new home price in 70 cities slightly declined in September compared with a month earlier, and the year-on-year increase continued to slow, Sheng…
China’s New Home Prices Fall, Signaling Market Cooling
China’s home prices fell for the first time in six years in September amid a home sales slump and developer debt crises, casting shadows on the country’s weakening economic growth. China’s average new home price in 70 cities slightly declined in September compared with a month earlier, and the year-on-year increase continued to slow, Sheng…
China Evergrande Secures Bond Extension as Property Sector Turmoil Deepens
October 22, 2021
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HONG KONG/SHANGHAI—China Evergrande Group has secured more time to pay a defaulted bond, financial provider REDD reported on Thursday, offering rare respite to the developer even as a debt crisis in the broader property sector deepened with more defaults. News of the three month-plus extension came a day after Evergrande scrapped a deal to sell…
Stocks Stall, Oil Cools, Evergrande and Lira Fall
October 21, 2021
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LONDON—World stocks slipped on Thursday as the upbeat mood that carried the Dow Jones and bitcoin to records a day earlier ran out of steam, while a pause in the oil rally stalled rising global bond yields. Turkey’s lira was backsliding towards record lows with the central bank expected to chop its interest rates again…
$2.6 Billion Deal for China Evergrande Collapses, Shares Set to Slide 10.5 Percent
HONG KONG—Shares of China Evergrande Group are set to fall 10.5 percent on Thursday after a deal to sell a $2.6 billion stake in its property services unit fell through, in the latest blow to the developer whose massive debt woes have rattled global markets. Evergrande Property Services Group’s stock was set to drop 8…
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