Here's what you need to know about Evergrande, and how it got to where it is now. Evergrande is one of China's largest real estate developers. The company is part of the Global 500 — meaning that it's also one of the world's biggest businesses by revenue. Listed in Hong Kong and based in the southern Chinese city of Shenzhen, it employs about 200,000 people. It also indirectly helps sustain more than 3.8 million jobs each year. The group was founded by Chinese billionaire Xu Jiayin, also known as Hui Ka Yan in Cantonese, who was once the country's richest man.
fredag 17. september 2021
5 things to know about Evergrande, a Chinese business empire on the brink
The troubles of Chinese conglomerate Evergrande have dominated headlines in recent days after it warned once again that it could default on its astronomical debt because of a cash crunch. Experts have characterized the firm's struggles as a major test for Beijing that risks turning into China's Lehman Brothers moment, sending shockwaves across the world's second biggest economy.
Here's what you need to know about Evergrande, and how it got to where it is now. Evergrande is one of China's largest real estate developers. The company is part of the Global 500 — meaning that it's also one of the world's biggest businesses by revenue. Listed in Hong Kong and based in the southern Chinese city of Shenzhen, it employs about 200,000 people. It also indirectly helps sustain more than 3.8 million jobs each year. The group was founded by Chinese billionaire Xu Jiayin, also known as Hui Ka Yan in Cantonese, who was once the country's richest man.
Here's what you need to know about Evergrande, and how it got to where it is now. Evergrande is one of China's largest real estate developers. The company is part of the Global 500 — meaning that it's also one of the world's biggest businesses by revenue. Listed in Hong Kong and based in the southern Chinese city of Shenzhen, it employs about 200,000 people. It also indirectly helps sustain more than 3.8 million jobs each year. The group was founded by Chinese billionaire Xu Jiayin, also known as Hui Ka Yan in Cantonese, who was once the country's richest man.
