Evergrande, China's biggest real-estate developer, is being liquidated. It has assets worth about $245 billion, but owes about $300 billion.

A Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer.

Evergrande has assets of about $245 billion, but owes about $300 billion.

Its demise is a “controlled collapse,” but still raises systemic risk and will hurt investors, says an analyst.

  • ilinamorato@lemmy.worldEnglish
    4·
    9 months ago

    Until it gets down to paying small businesses and individual contractors, then all of a sudden the money is all gone and I don’t even recognize you, señor.