Evergrande the worlds most indebted property developer is crumbling under the weight of more than 300 billion of debt and warned more than once it could default. On March 31 Evergrande Group 3333HK of China released its 2020 performance report.
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Evergrande. Evergrande owns more than 1300 real estate projects in. Its main business is in real estate and its Chinas second-largest property developer by sales. A looming default by Chinese property developer Evergrande Group 3333 -1024.
It is the non-COVID non-inflation risk that has been lurking in the global backdrop for months. Evergrande has tried to sell off parts of its vast empire to raise new funds but said last week it was uncertain as to whether the group will be able to consummate any such sale It. The outstanding performance and significantly reduced liability amount reveals that.
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