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PwC Zhong Tian was hit with a six-month suspension and a fine of $62m on Friday over the firm's audit of failed property developer China Evergrande Group

PwC invests in 'high quality' business in China - memo

PwC is making "tangible investments" to ensure the Big Four firm has high quality and sustainable business in China, it said in a memo to staff after Chinese regulators on Friday hit the company's mainland unit with a record penalty.

Business • 16 Sep 24

China's Ministry of Finance has imposed a six-month business suspension on PwC's auditing unit in mainland China over the auditing of Evergrande

PwC unit suspended for 6 months in China over Evergrande

China's Ministry of Finance has imposed a six-month business suspension on PwC's auditing unit in mainland China over its audit of troubled property developer China Evergrande Group, the regulator said.

Business • 13 Sep 24

The business ban is expected to be imposed on PwC Zhong Tian LLP, the registered accounting entity and the main onshore arm of PwC in China

PwC China faces 6 month ban over Evergrande audit

Chinese regulators will likely order business suspension for a big part of PricewaterhouseCoopers' auditing unit in mainland China for six months, as part of punishment for its work on troubled property developer Evergrande, five sources said.

Business • 22 Aug 24

Evergrande, the world's most-indebted property developer, is at the centre of a crisis in China's property sector.

China Evergrande loses $2.4bn in value

Shares of China Evergrande Group fell as much as 87% early today when trading resumed following a 17 month suspension, wiping out almost $2.4 billion of its value, after saying it had "adequately" fulfilled all guidance issued by the Hong Kong Stock Exchange.

Business • 28 Aug 23

Evergrande said in a long-awaited update on its preliminary offshore restructuring proposal that it expected due diligence work on the group to be completed in the near future

Evergrande updates on offshore debt restructuring plan

China Evergrande Group has said it will arrange asset packages that may include equity in its two offshore listed units as a sweetener for restructured offshore debt.

Business • 29 Jul 22

Its debt crisis has engulfed other Chinese developers and roiled global financial markets over the past year

Debt-laden China Evergrande to hold call with investors

China Evergrande and its financial advisers will hold a call with investors today sources said, the first such call since it defaulted on some dollar bond payments last month.

Business • 26 Jan 22

Shares of Evergrande Property Services Group ended 1.5% lower on Friday at HK$2.63

China Evergrande chief's stake in services unit drops

The shareholding of China Evergrande Group's chairman in its property services unit has fallen to 58.18% from 60.96% after forced selling of pledged shares by a third party, a Hong Kong stock exchange filing showed.

Business • 24 Dec 21

2 China property firms default on $1.6 billion in bonds

Two major Chinese property firms have defaulted on $1.6 billion worth of bonds to overseas creditors, Fitch Ratings agency said today, as contagion spreads within the country's debt-ridden property sector.

Business • 09 Dec 21

So far, any Evergrande fallout has been broadly contained

China Evergrande shares hit new low amid debt crisis

China Evergrande Group's shares hit a record low today after a missed debt payment deadline put the developer at risk of becoming the country's biggest defaulter, even as hopes of a managed debt restructuring calmed fears of a messy collapse.

Business • 08 Dec 21

Evergrande sold a 5.7% stake totalling HK$1.12 billion in HengTen Networks Group in three separate transactions from last Thursday

Evergrande raises $144m before payment deadline

Crisis-hit property developer Evergrande has managed to raise around $144m by cutting its stake in an internet company, days before a looming debt interest payment deadline.

Business • 09 Nov 21

China's gross domestic product expanded by 4.9% year-on-year in the third quarter

China growth slows further in third quarter

China's economic growth slowed more than expected in the third quarter, official data showed today, as a crackdown on the property sector and a looming energy crisis began to bite.

Business • 18 Oct 21

Concerns are mounting that the cash crunch at Evergrande could lead to contagion for the wider Chinese economy

China central bank says Evergrande risks 'controllable'

China's central bank said today that the risk of spillover from embattled property giant Evergrande to the financial sector was "controllable", breaking its silence on the company's debt troubles, state media reported.

Business • 15 Oct 21

Most of the 10 new companies in the DAX were down today, with aerospace giant Airbus and e-commerce company Zalando both sinking around 4%

Germany's DAX struggles as index grows from 30 to 40

The DAX fell 2.6% today to its lowest level since July, as market turmoil marred the German blue-chip stock market index's expansion from 30 to 40 companies.

Business • 22 Sep 21

Evergrande