Posted inChina

Evergrande debt crisis showing signs of contagion

Evergrande Group, China’s second-largest property developer by contracted sales, saw its share price fall by as much as 11% on Thursday on the news the beleaguered company’s debts had been further downgraded by credit rating agencies. The world’s most indebted property developer’s financial situation has not improved since group founder Hui Ka-yan stepped down as […]