Evergrande Is A Distraction For A Much Bigger Crisis Happening In China Right Now!

YouTube | 23 Sep 2021

(Reuters) – China Evergrande Group (3333.HK) dollar bondholders were still waiting for information about a key interest payment due Thursday that has kept global investors on tenterhooks, but the property developer was instead expected to provide more clarity in the coming month, a source familiar with the situation said.

Evergrande’s payment obligations have captured global attention in recent weeks as fears have spread that its difficulties could pose systemic risks to China’s financial system and possibly to other markets.

The company, which epitomises the borrow-to-build business model and was once China’s top-selling developer, has run into trouble over the past few months as Beijing tightened rules in the property sector to rein in debt levels and speculation.

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