China

How China handled 3 high-profile corporate meltdowns, including companies considered too big to fail - and what that could tell us about Evergrande's future

2 days ago   |   By

Evergrande headquarters in Shenzhen, China. NOEL CELIS/AFP via Getty Images
Chinese property giant Evergrande is teetering on the brink of collapse, with $300 billion in debt.
The Chinese government is likely to step in to manage the company's unraveling, experts say.
Authorities previously stepped in to manage meltdowns at Anbang Insurance, Baoshang Bank, and HNA Group.
China Evergrande's debt crisis has investors on edge. If the property developer defaults, it could send the world's second-largest economy - and the rest of the world - into a financial crisis. But experts say the Chinese...
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A major Chinese property developer told staff to 'be frugal' amid a market slump so bad that major cities are slashing land auction prices to attract buyers

3 days ago   |   By

China's property sector is central to its economy. Getty Images
China Vanke said employees can't continue to operate as if they were still in the "golden era" of the industry.
The Shenzhen-based developer told staff to save every cent they can, likening the mentality to a war-time mode.
The instructions come amid a slump in China's property sector, even though Vanke is in relatively good health.
A major Chinese real-estate developer has advised its staff to tighten purse strings amid a market slump. China Vanke, the country's third-largest real estate developer by sales, has told staff to...
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