Evergrande owns more than 1300 real estate projects in over 280. It is the non-COVID non-inflation risk that has been lurking in the global backdrop for months.
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A looming default by Chinese property developer Evergrande Group 3333 -1024.
Evergrande. Its main business is in real estate and its Chinas second-largest property developer by sales. 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 accused. Evergrande is everywhere.
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. The outstanding performance and significantly reduced liability amount reveals that Evergrande. On March 31 Evergrande Group 3333HK of China released its 2020 performance report.
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