Everyone's suspicions are now being confirmed: Evergrande can't service its loans. The real estate group is missing one payment deadline after another. But the International Monetary Fund still believes China can cope with the situation without major consequences for the entire economy. Meanwhile, Evergrande's car division made a surprise announcement.
By
In addition to Evergrande's real estate projects, asset products of Evergrande's Wealth Management were deemed a safe investment. Many bank consultants recommended them to retail investors. What will happen to their investments now, and how will they react to the constant stream of bad news? Beijing is taking its time with a final decision.
By Ning Wang
The impending Evergrande bankruptcy is a major stress test for China's financial system. But the impact on the country's real estate and financial system will remain manageable. There is no risk of a collapse or even a global financial crisis. But the case ruthlessly exposes the weaknesses of the Chinese economy.
By Frank Sieren
