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.

  • ralphio@lemmy.worldEnglish
    2·
    10 months ago

    Yes, both stock and bonds. But the stock and bonds have been trading near zero for a couple years so the damage was done in '21.