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Timeline of a Crisis: The Worsening Finances of China Evergrande

A step-by-step look at how Evergrande’s problems have snowballed up to pivotal week when bond interest payment was due

Graphic by Richa Gandhi.


(AF) Markets have been roiled and concern for the fate of China’s economy has grown as the financial woes of property giant China Evergrande have deepened.

With about $305 billion of debt on Evergrande’s books, the crisis reached a pivotal moment this week when an $83.5 million interest payment on one of the privately-owned company’s bonds came due. More obligations are due next week. 

Some economists fear that Evergrande’s default would ripple through China’s financial system and property market, causing substantial damage to domestic economic growth and potentially to global financial markets. Others say Beijing has the tools to limit any contagion.  

A deadline for a coupon payment due September 23 has already passed and, so far, there has been no sign that it has been paid.


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Mark McCord

Mark McCord is a financial journalist with more than three decades experience writing and editing at global news wires including Bloomberg and AFP, as well as daily newspapers in Hong Kong, Sydney and Melbourne. He has covered some of the biggest breaking news events in recent years including the Enron scandal, the New York terrorist attacks and the Iraq War. He is based in the UK. You can tweet to Mark at @MarkMcC64371550.

Richa Gandhi

Richa Gandhi is a Data Journalist with Asia Financial News Group and has a special interest in data analytics. She is a post graduate in Statistics from Pune University in India. You can reach out to her on Twitter at @RichaG18.


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