Xu Jiayin’s ascent mirrored that of China’s, as he rose from a rural and impoverished background to be, at one time, the country’s richest man. Now, though, as Beijing reins in its free market stars, Xu has his back against the wall
Blackstone's offer in June had valued the property group – which holds prime real estate in cities like Beijing – at HK$26 billion but worries over ‘time frames’ have scuppered the deal
China's grossly indebted property developer has reportedly won a reprieve with at least one creditor agreeing to extend payment deadlines for its bonds
Fitch says China Evergrande has tight liquidity, declining contracted sales, and is making limited progress selling assets.
Company is rushing to raise funds to pay its many lenders and suppliers, while regulators and financial markets fear the crisis could swamp China's banking system
Demand in the country's biggest cities has cooled following a range of restrictions to stabilise prices and reduce property developers' huge debts, a private-sector survey has found
Hugely indebted property developer warns of liquidity and default risks if it fails to resume construction, dispose of more assets and renew loans
Banks have reportedly been told to roll over Evergrande's loans, while a Guangdong court will handle all lawsuits against the company, which shows officials are helping to manage the debt crisis
Investors are too focused on China's regulatory crackdown and risk ignoring property curbs that are the `elephant in the room,' says Chief China Economist Lu Ting.