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#EvergrandeGroup

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#Zhongzhi, an asset and wealth management company in #China’s #ShadowBanking sector, said its total assets amounted to 200bn yuan (£22.5bn) against obligations of up to 460bn yuan, in a letter to shareholders issued on Wednesday. #PropertyMarket #CounteyGarden #EvergrandeGroup

Chinese #ShadowBank admits £30bn shortfall after ‘management ran wild’ | Chinese economy | The Guardian
theguardian.com/business/2023/

The Guardian · Chinese shadow bank admits £30bn shortfall after ‘management ran wild’By Amy Hawkins

The #EvergrandeGroup and #CountryGarden are in debt for half a trillion dollars in debt combined.
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Across #China, from #Guilin in southern China to #Dalian in the north, countless home buyers have emptied their life savings into homes that never materialized. #PropertyMarket #Evergrande

Crumbling buildings and broken dreams: China’s unfinished homes |#PropertyCrisis | Al Jazeera
aljazeera.com/economy/2023/10/