With its regional governments facing unprecedented debt woes, economists say Beijing has realised it needs to urgently throw cash at the problem
Real estate giants like Country Garden and Sunac China saw their shares rise 18% and 17% while investors also piled into property firms’ bonds
The struggling real estate giant posted a combined loss of $81 billion for 2021 and 2022, deepening investor doubts about the viability of the restructuring deal
The embattled property developer's overdue results showed steep losses and liabilities prompting some to question the viability of its restructuring plan
But some analysts warned the move that sparked the share price rebound won’t be enough to turn around the country’s crippled property sector
Two subsidiaries holding 47 property projects will be transferred in a cash boost for the electric vehicle unit of the ailing real estate giant
The debt restructuring plan has not proven popular with Evergrande dollar bondholders, with one likening it to lending a bucket of rice and then being repaid back with two grains
The restructuring, worth $22.7 billion, is just part of Evergrande‘s total liabilities that amount to more than $300 billion
Bondholders have also been pushing Evergrande Chairman Hui Ka Yan to put in more of his own money to repay debt
The world's most indebted property developer has been struggling to repay its many creditors, making this a 'crucial year' for debt repayment
The services unit’s pledged shares were last enforced a year ago, when the group's ownership was reduced from 60.96%
The Hengchi 5 has debuted in a flashy videotaped event, as president Liu Yongzhong said: "[We] are striving to become a globally recognised national automobile brand."