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tChina’s Evergrande files for bankruptcy
From the article:
> China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.
> The beleaguered firm borrowed heavily and defaulted on its debt in 2021, sparking a massive property crisis in China’s economy, which continues to feel the effects.
And an interesting note on their debt:
> The property company’s debt load reached 2.437 rillion yuan ($340 billion) by the end of last year. That is roughly 2% of China’s entire gross domestic product.
https://www.cnn.com/2023/08/17/business/evergrande-files-for-bankruptcy/index.html
From the article:
> China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.
> The beleaguered firm borrowed heavily and defaulted on its debt in 2021, sparking a massive property crisis in China’s economy, which continues to feel the effects.
And an interesting note on their debt:
> The property company’s debt load reached 2.437 rillion yuan ($340 billion) by the end of last year. That is roughly 2% of China’s entire gross domestic product.
https://www.cnn.com/2023/08/17/business/evergrande-files-for-bankruptcy/index.html
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