Evergrande

All news and posts of our editorial team on the topic

Winding-Up lawsuit against Evergrande
The heavily indebted Chinese real estate group Evergrande could get into real trouble with its creditors. The company “Top Shine Global Limited of Intershore Consult (Samoa) Limited” has filed a winding-up lawsuit against China Evergrande Group with the Hong Kong High Court. According to the filing, a hearing is to be held on August 31. […] continue reading →
Problems on the real estate market intensify
The problems on China’s real estate market are expected to worsen this year, according to economists. Average property prices are expected to fall by 1.3 percent in the first half of the year, according to a Reuters poll among analysts and economists published on Tuesday. They predict stagnation for the entire year. Accordingly, real estate […] continue reading →
‘Evergrande’s creditors will lose money’
Despite abundant evidence of Evergrande's bankruptcy, a formal filing for bankruptcy remains nowhere in sight. A rescue plan is to be presented by mid-year. The creditors' bankruptcy petitions were apparently unsuccessful. Speaking with Christian Domke Seidel, lawyer Elske Fehl-Weileder explains the underlying reasons. continue reading →
Evergrande: bankruptcy drags on
Evergrande has run out of money – that much is clear. The company cannot even present its annual balance sheet. This process shows: Large corporate bankruptcies often do not end with bankruptcy proceedings. Especially in China, an agonizingly long phase of denial of reality usually follows instead. continue reading →
Trade of Evergrande shares suspended
The Hong Kong Stock Exchange has suspended trading in shares of the troubled property developer on Monday. Trading of its EV subsidiary Evergrande NEV and a service subsidiary was also temporarily suspended, Bloomberg reported. The company and the stock exchange did not provide any official explanation. Back in January, the highly indebted company announced that […] continue reading →
No tax on real estate for the time being
China will not expand its pilot program for a real estate tax this year. This was reported by Xinhua, citing a source in the Ministry of Finance. Current economic conditions would make it difficult to expand the program. The real estate market is currently under pressure, with property prices currently falling slightly. Major developers such […] continue reading →
Evergrande authorized to sell cars
China’s Ministry of Industry has granted Evergrande New Energy Vehicle Group permission to sell EVs. Two models of the subsidiary of the heavily indebted real estate developer Evergrande have received official approval. They may now be sold under the brand name Hengchi, as reported by the business portal Caixin. Evergrande NEV has yet to sell […] continue reading →
Assets of Evergrande subsidiary frozen
A Chinese court has frozen assets of an Evergrande subsidiary worth about $100 million. The decision follows a lawsuit filed by state-owned Shanghai Construction against Evergrande, Reuters reported. The real estate developer had failed to pay overdue construction fees to Shanghai Construction. In a second court case, an additional $57 million had been frozen, Shanghai […] continue reading →
Financial authorities support unstable markets
China’s financial authorities are trying to stop the markets from slipping further. On the one hand, state-controlled funds are intervening in the stock market to support prices. On the other hand, the central bank is easing restrictions on mortgage lending. These measures are intended to inject fresh capital into the ailing real estate sector and […] continue reading →