December 5, 2023
HONG KONG: Heavily indebted Chinese property giant Evergrande has until late January to put together a restructuring plan, a Hong Kong court ruled Monday, extending a deadline that could lead to its liquidation. Once China’s biggest real estate developer, Evergrande has reported more than $300 billion in liabilities, and its troubles have become a symbol
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Sky News Business Editor Ross Greenwood says Evergrande Group is the “most indebted property company in the world”. Mr Greenwood says Evergrande has more than “$340 billion of debt”. “The biggest corporate collapse in Chinese history … what was expected to be its final court hearing before it slumped into liquidation was averted at the
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HONG KONG: Shares in Chinese property giant Evergrande soared as trading resumed on Tuesday following a suspension last week when the heavily indebted company announced its boss was under criminal investigation. In early trading on the Hong Kong Stock Exchange, prices jumped more than 60 percent before dropping to 10 percent and then rising again.
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HONG KONG: Beleaguered property giant China Evergrande suspended trading of its shares on the Hong Kong stock exchange on Thursday, according to notices posted by the bourse, as the debt-ridden company grapples with severe financial difficulties. Trading in its two other units — the firm’s property services and electric vehicle groups — also stopped at
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BEIJING: The billionaire boss of beleaguered Chinese property developer China Evergrande is being held by police, a report said on Wednesday, as the debt-ridden company grapples with severe financial difficulties. Xu Jiayin, who is known as Hui Ka Yan in Cantonese, was taken away by authorities earlier this month, according to anonymous sources cited by
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BEIJING: Shares in embattled Chinese property developer Evergrande plummeted on Monday, following the announcement that it would be unable to carry out a restructuring plan intended to guarantee its survival. The company collapsed more than 25 percent by the break, underscoring market concerns as China’s property sector faces an unprecedented crisis. On Sunday evening, Evergrande
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HONG KONG: Shares in Chinese property giant Evergrande plunged by around 25 percent as markets opened in Hong Kong on Monday, following the arrest of several of the debt-ridden company’s employees in China. GOING DOWN A woman walks by a map showing Evergrande development projects in China, as she heads to an Evergrande city plaza
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BEIJING: Police in China have arrested several employees of a subsidiary of troubled Chinese property giant Evergrande, authorities said Saturday. Employees at Evergrande’s financial subsidiary, Evergrande Wealth Management, were arrested, police in the southern city of Shenzhen said in a statement, without specifying the number of employees or the charges against them. HOUNDED BY TROUBLE
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HONG KONG: Shares in troubled Chinese property giant Evergrande plummeted more than 80 percent in Hong Kong on Monday morning after the lifting of a 17-month trading suspension. The resumption of trading came after the company said in a filing on Friday that it had met guidelines set out by the bourse, including belatedly publishing
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China Evergrande Group delayed key votes on its offshore-debt restructuring plan just hours before they were to occur Monday, adding to uncertainty in a protracted process to finalize one of the country’s biggest restructurings ever. The distressed developer, at the epicenter of a property crisis that’s unleashed record delinquencies in a threat to China’s financial
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