@Lily.Campbell · Posted 29 Sep. 2021
@Jane.Martin · Updated 29 Sep. 2021
Evergrande is China's real estate company that is in the second position. The real estate giant Evergrande has been broadcast in news recently because it is unable to clear the interest on its massive debt.
The company's share price has dropped over 80% in last year. The Chinese government imposed rules which state the financial debt amount up to which a property developer can borrow. This can be measured. New rules practically cut prohibits Evergrande from taking any more extra debts on the balance sheet. It became drastic news because it had already engaged in borrowing for running the business. Evergrande now is compelled to sell off land and properties to recover from the heavy debts.
@Rachael.Davis · Updated 29 Sep. 2021
Trending news on what is China’s Evergranade. A heavy debt crisis at Evergrande, which is one of the Chinas biggest real estate developers is going down the market. A crisis has been developing at Evergrnade. Chinas second-largest real estate company is in heavy crisis because it hasn’t made any payments on some of its debts. If it doesn’t resolve it is being threatened of becoming the largest debt default by a company in Asia. The company has to sell its properties and lands to clear all the debts it had borrowed for running its business.
@Peter.Clark · Posted 29 Sep. 2021
China's Evergrande group has been in a giant collapse. Evergrande has been in raising funds to pay its debts to many lenders suppliers and investors after constant warnings. The government has come up with a new rule that how much a company can borrow financial debts. This was shocking news for the company already borrowed money. and now it has to sell land and properties to clear out the debts.