News | Latest Breaking News Stories & Headlines

Shares of embattled developer China Evergrande's EV unit soared as much as 113% today

Shares of China Evergrande's EV unit soar after sale deal

Shares of China Evergrande New Energy Vehicle Group more than doubled today as trade resumed after the company said liquidators had agreed on behalf of key shareholders to sell a stake in the electric vehicle (EV) maker.

Business • 27 May 24

New home prices fell for a tenth consecutive month by 0.6% month-on-month in April, new Chinese figures show today

China pledges to buy apartments & finish housing projects

China has today announced plans for local governments to buy "some" apartments and pledged forceful efforts to deliver unfinished homes, as part of a new round of measures to stabilise the crisis-hit property sector.

Business • 17 May 24

China Evergrande Group is the world's most indebted developer, with more than $300 billion of total liabilities

China Evergrande ordered to liquidate in landmark move

A Hong Kong court has today ordered the liquidation of property giant China Evergrande Group, dealing a fresh blow to confidence in the country's fragile property market as policymakers step up efforts to contain a deepening crisis.

Business • 29 Jan 24

China Evergrande Group has become the poster child of a debt crisis in China's property sector

Evergrande's shares halted as concerns mount

Trading in shares of China Evergrande Group was suspended today after a report that its chairman had been placed under police watch, as concerns mounted about the cash-strapped developer's future amid growing liquidation risk.

Business • 28 Sep 23

Reports say that Hui Ka Yan, who founded Evergrande in 1996, was taken away by police earlier this month and is being monitored at a designated location

China Evergrande's chairman under police watch

The chairman of China Evergrande Group has been placed under police surveillance, Bloomberg News reported today, raising more doubts about the embattled developer's future as it also grapples with mounting prospects of liquidation.

Business • 27 Sep 23

China Evergrande Group's share price plunged 22% yesterday

China Evergrande unit misses bond payment

China Evergrande Group's shares slid for a second consecutive session today, dropping as much as 8% after a unit of the embattled property developer missed an onshore bond repayment.

Business • 26 Sep 23

China Evergrande is the world's most indebted property developer

China police detain Evergrande wealth management staff

Shares of embattled developer China Evergrande Group plunged 25% today after police detained some staff at its wealth management unit, suggesting a new investigation that could add to the property company's woes.

Business • 18 Sep 23

Evergrande has become the poster child of China's debt crisis in the property sector, which accounts for roughly a quarter of the economy

Evergrande seeks US court nod for $32bn debt overhaul

Embattled developer China Evergrande Group has filed for bankruptcy protection in a US court as part of one of the world's biggest debt restructuring exercises, as anxiety grows over China's worsening property crisis and a weakening economy.

Business • 18 Aug 23

China Evergrande Group is the world's most indebted property developer with over $300 billion in liabilities

China Evergrande unable to publish results by March 31

China Evergrande Group said today that the embattled developer would not be able to publish its financial results for last year by March 31 as required by stock listing rules because audit work has not been completed.

Business • 22 Mar 22

Evergrande is the world's most indebted developer with over $300 billion in liabilities

Trading in China Evergrande halted before announcement

Shares of embattled property developer China Evergrande Group and onshore bonds issued by its flagship unit Hengda Real Estate Group were suspended from trading today, pending an announcement by the company.

Business • 21 Mar 22

A failure to make $82.5m in interest payments that had been due last month could represent Evergrande's first offshore default on a public bond

Some Evergrande bondholders did not get paid

Some offshore bondholders of China Evergrande Group did not receive coupon payments by the end of a 30-day grace period last night, four people with knowledge of the matter said.

Business • 07 Dec 21

Pessimistic comments from China Evergrande have raised expectations of direct state involvement and a managed debt restructuring

China Evergrande inches closer to restructuring

China Evergrande Group has set up a risk management committee as the cash-strapped property developer inches closer to a debt restructuring that has loomed for months over global markets and the world's second-largest economy.

Business • 06 Dec 21

Construction of the Guangzhou Evergrande football stadium started last year

China Evergrande soccer stadium taken over by govt

A government body has taken over China Evergrande Group's soccer stadium with a view to selling it, a person with direct knowledge of the matter told Reuters, as the debt-laden property developer scrambles to meet liabilities.

Business • 26 Nov 21

Evergrande, the world's most indebted developer, has been stumbling from deadline to deadline in recent weeks

Evergrande dodges default again but concerns remain

Cash-strapped developer China Evergrande Group averted a destabilising default at the last minute for the third time in the past month, with a source saying several bondholders had received overdue coupon payments.

Business • 11 Nov 21

Evergrande has been stumbling from deadline to deadline in recent weeks as it grapples with over $300 billion in liabilities

Evergrande teeters on edge of default as $148m due

Cash-strapped China Evergrande Group teetered again on the precipice of default as it faced a final deadline to make an offshore bond coupon payment today, amid growing concerns about a liquidity squeeze in the property sector.

Business • 10 Nov 21

Evergrande is reported to have missed at least $150m in offshore bond payments

Evergrande pays overdue interest on offshore bond

China's troubled property giant Evergrande has made a key offshore interest payment a day ahead of a weekend deadline, state media said today.

Business • 22 Oct 21

Shares in Evergrande Group dropped more than 10% today as it ended its two-week suspension

Evergrande shares plunge on market return as deal fails

Chinese property giant Evergrande's shares plunged today after resuming trading in Hong Kong, with the failure of a unit sale deal deepening fears the indebted firm will collapse and send shockwaves through the world's second-largest economy.

Business • 21 Oct 21

Evergrande has $300 billion in debt and has missed a series in bond payments

China Evergrande makes onshore coupon payment - sources

China Evergrande Group has today paid an onshore bond coupon due, four people with knowledge of the matter said, amid concerns about a possible offshore default by the cash-strapped developer later this week.

Business • 19 Oct 21

Some bondholders said they did not receive coupon payments totalling $148m on Evergrande's April 2022, April 2023 and April 2024 notes due by 4am this morning

Evergrande misses third round of bond interest payments

China Evergrande Group has today missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term.

Business • 12 Oct 21

Evergrande is facing one of China's largest defaults as it wrestles with more than $300 billion of debt

Evergrande bondholders to mull their options

Chinese property developers' bonds and shares slumped today with few clues as to how local regulators propose to contain the contagion from cash-strapped China Evergrande Group that faces nearly $150m in offshore payment obligations next week.

Business • 08 Oct 21

China Evergrande Group is facing one of the country's largest-ever defaults as it wrestles with more than $300 billion of debt

China property sector woes deepen amid Evergrande fears

Worries about rising debt defaults by Chinese property developers sapped investor sentiment today amid fresh credit rating downgrades and uncertainty about the fate of China Evergrande Group as it scrambles to raise cash by selling assets.

Business • 05 Oct 21

China Evergrande Group did manage to made a partial payment to some of its onshore investors today

China Evergrande misses second payment deadline

China Evergrande Group missed paying bond interest due yesterday, two bondholders said, its second unpaid offshore debt obligation in a week.

Business • 30 Sep 21

Evergrande said it would sell a 9.99 billion yuan ($1.5 billion) stake it owns in Shengjing Bank

Evergrande sells bank stake to repay loan

China Evergrande Group left its offshore bondholders guessing whether it would pay interest on a bond coupon due today despite agreeing to settle debt with a Chinese bank in a $1.5 billion stake divestment deal.

Business • 29 Sep 21

The warning by China Evergrande New Energy Vehicle Group was the clearest sign yet that the embattled property developer's liquidity crisis is worsening in other parts of its business

China Evergrande's electric car unit's shares sink 26%

Shares of China Evergrande's electric car unit plunged as much as 26% today after it warned it faced an uncertain future unless it got a swift injection of cash and after it said it will not proceed with plans to issue RMB shares.

Business • 27 Sep 21

Investors are worried that China Evergrade's collapse could pose systemic risks to China's financial system and reverberate around the world

China Evergrande bondholders in limbo over debt crisis

China Evergrande inched closer today to the potential default that investors fear as an interest deadline expired without any announcement from the property giant whose mountain of debt has spooked world markets.

Business • 24 Sep 21