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Evergrande crisis
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Evergrande crisis

Evergrande crisis
Evergrande crisis
Latest news and analysis about the China Evergrande Group, the world’s most indebted property developer. Fears are rising about Evergrande’s ability to repay its cascading pile of debt against the backdrop of muted property sales in mainland China and efforts by Beijing to rein in the property sector in the past year.
The court dismissed an injunction application filed by Yingjia International Properties to restrain offshore entity State Hero Holdings from presenting a winding-up petition against it. Photo: Warton Li
Hong Kong courts

Court rules Evergrande can recover HK$6b debt after ‘fabricated’ claims rejected

Debt stemmed from March 2021, when Evergrande subsidiary State Hero reached agreement to lend HK$5 billion to Yingjia International.

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China property

Opinion | Why China is untangling its banks from the property wreckage

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Accounting and auditing

Evergrande liquidators seek US$8.4 billion from PwC units in Hong Kong lawsuit

Accounting and auditing

Hong Kong court to hear Evergrande liquidators’ lawsuit against PwC on Monday

PwC faces fresh legal battle after SFC ordered HK$1 billion payout to Evergrande minority shareholders and AFRC imposed HK$300 million fine.

The one-day hearing against PwC is open to the public. Photo: Andy Wong
China property

China’s bond market faces climbing re-defaults as property crisis drags on

Re-defaults erode credit differentiation as homebuyer confidence weakens under slow income growth and high leverage, analysts warn.

Banking & finance

Default in our stars: China banks use satellites to track assets, cut loan risks

Analysts say orbital monitoring of sites, property and other assets provides vital data on borrowers.

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China property

Tycoon Pan Shiyi slams China property ‘Ponzi’ as Evergrande boss pleads guilty

Writing from US in a since-deleted post, Soho China founder warns that property recovery is impossible without buyer trust, as new data shows home sales still plunging.

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An abandoned Evergrande construction project is seen on Tuesday in China’s Anhui province. The founder of the Chinese property giant has pleaded guilty to charges of fraud and bribery, a court said on Tuesday. Photo: AFP
China Evergrande Group

Founder of China’s Evergrande Group Hui Ka-yan pleads guilty in fraud trial

Milestone in downfall of company that was once the world’s largest developer is unlikely to move the market, analysts say.

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China property

Expect no ‘systemic shock’ from Vanke’s ‘technical default’: HSBC

Even an ‘aggressive’ haircut would pose limited downside risks to key developers, bank says.

China property

China’s developers diminish further amid unending property downturn

Only 10 developers manage to break US$14 billion in 2025 sales, down from 43 in 2020.

New construction rises in a residential area in Hangzhou, in eastern China’s Zhejiang province, on January 5, 2026. Photo: CFOTO/Future Publishing via Getty Images
China's economic recovery

No ‘piecemeal’ steps: Chinese journal urges more support for property sector

Top Communist Party journal calls on officials to roll out a stronger policy package in one go, rather than following ‘piecemeal-style’ approach.

People pass by half-finished buildings in Beijing. China’s property market has been mired in a downturn since 2021. Photo: EPA-EFE
China consumption

China vows city-specific fixes to clear housing glut, stabilise property sector

Housing minister pledges to empower local governments to buy unsold inventory and shift towards selling only finished homes with a ‘what you see is what you get’ model.

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China property

China Vanke wins bondholders’ reprieve, averts default for now

Holders of the 2 billion yuan note approve extension of grace period to January 28, but deny proposal to defer principal payment for a year.

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China property

China Vanke’s managers have no plans to sell shares as firm fights for survival

Vanke, responding to queries from investors, says top managers have not notified it about their intentions so far.

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Vanke said it had completed 19 bulk asset transactions in the first three quarters of this year totalling 6.86 billion yuan. Photo: Reuters
China property

Shanghai launches clampdown on property market doom-mongering

City’s internet regulators shut down 70,000 accounts in a ‘special campaign’ against pessimistic content as real estate jitters continue.

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Shanghai has launched a “special campaign” against online content that talks down the property market. Photo: Shutterstock
China property

As I see it | China’s extended property slump was always expected

History has shown that when real estate bubbles burst, the economic damage is usually severe and prolonged.

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China Evergrande Group

Evergrande’s iconic Canadian hotel to be sold after default

Fairmont Le Chateau Montebello has hosted luminaries including Grace Kelly and Margaret Thatcher.

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China property

China’s property slump could hinder growth 5 more years: ex-finance minister

Lou Jiwei says real estate is an unlikely source of systemic risk, but proactive policy is necessary to counteract its drag on the economy.

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China’s former finance minister Lou Jiwei at an event in 2016. Photo: Simon Song
China property

Evergrande liquidators set month-end deadline for bids on property services unit

Liquidators caution that the sale of Evergrande Property Services is at a preliminary stage and many of the details have yet to be finalised.

China property

Developer China Vanke reports US$2.3 billion loss amid sales slowdown

Persistent property-market weakness ratchets up pressure on the developer despite increased support from its largest state-owned shareholder.

China property

Chinese developer’s property management arm hit by share seizure in Hong Kong

More than 72 per cent of Redsun Services Group’s shares are seized as Chinese developer’s debt woes deepen after defaulting on a pledge.

The seizure has “no significant impact” on the business operation, financial conditions and solvency of the company, according to Redsun Services Group. Photo: Handout
China property

China’s property market poised to decline at least through 2026: S&P analyst

Nationwide primary property sales are expected to fall 8 per cent in 2025 and between 6 to 7 per cent in 2026.

A man rides a scooter past a housing complex by Chinese property developer Country Garden Holdings in Tianjin, northern China. Photo: AFP
China's economic recovery

China’s micro-drama craze turns idle real estate projects into lavish film sets

The fast-growing entertainment sector brings life to vacant buildings, but industry insiders say the broader impact remains limited.

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China property

Hong Kong court names Evergrande’s liquidators as receivers of founder’s assets

‘There is a total failure on the part of Hui to comply with the disclosure order,’ writes Justice Herbert Au-yeung Ho-wing.

China Evergrande Group

Editorial | Evergrande delisting brings painful economic chapter to a close

The move comes at the right time as the Hong Kong stock exchange must maintain the integrity of listed companies and its own credibility.

An unfinished residential compound developed by China Evergrande Group is seen on the outskirts of Shijiazhuang, Hebei province, on February 1, 2024. Photo: Reuters
China property

Hong Kong developer Road King defaults on debt payments

Listed firm suspends nearly US$80 million in interest payments and distributions while seeking restructuring discussions with creditors.

A view of Crescent Green, developed by Road King Infrastructure, in Kam Tin North, Yuen Long. Photo: Handout
China property

4 years after Evergrande crash, Chinese families still stuck in ‘broken houses’

China’s faltering property sector continues to be a drag on consumption, with much of middle class wealth stored in homes that have not regained value.

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China Evergrande Group

Liquidators hire UBS and Citic to sell Evergrande’s property services unit

Court-appointed liquidators are working with UBS Group and Citic Securities to seek potential buyers for the subsidiary, Evergrande Property Services Group.

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