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April 19, 2024
 

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EVERGRANDE

As China struggles with a slumping stock market and a collapsing real estate sector, commentary and even financial analysis Beijing deems negative are blocked.
BUSINESS
Jan 31, 2024
China’s censorship dragnet targets critics of the economy
The government's new information campaign about the economy is wider than usual censorship, with efforts now extending to mainstream commentary.
Evergrande, the world's most indebted developer with more than $300 billion of total liabilities, sent a struggling property sector into a tailspin when it defaulted on its debt in 2021.
BUSINESS / Companies
Jan 29, 2024
Embattled China Evergrande ordered to liquidate by Hong Kong court
A liquidation ruling of the developer which has $240 billion of assets will likely jolt already fragile Chinese capital and property markets.
Evergrande has become a poster child for China’s property crisis since the builder defaulted two years ago. It reported a combined loss of $81 billion in 2021 and 2022.
BUSINESS / Companies
Dec 4, 2023
Evergrande winding-up hearing in Hong Kong adjourned again
The world’s most-indebted property developer now has eight weeks to convince offshore bondholders to agree on a restructuring.
China Evergrande Group Chairman Hui Ka Yan
BUSINESS / Companies
Sep 27, 2023
Evergrande’s billionaire chairman Hui under police surveillance
Hui was taken away by Chinese police earlier this month and is being monitored at a designated location. It’s not clear why he is under surveillance.
China Evergrande has sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies undergoing restructurings from creditors that hope to sue them or tie up assets in the United States.
BUSINESS / Companies
Aug 18, 2023
China Evergrande files for protection in U.S. bankruptcy court
The company sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies that are undergoing restructuring.
Japan Times
ASIA PACIFIC
Aug 3, 2022
Sweeping mortgage boycott changes the face of dissent in China
While real estate has been the most common cause of protests in recent years, a coordinated boycott of this scale has never happened before in China.
Japan Times
BUSINESS
Aug 1, 2022
China Evergrande falls short of promised restructuring plan
Adding to setbacks, the company said in a filing Sunday that one of its units will need to sell shares of a bank in northeastern China, after losing an arbitration ruling.
Japan Times
COMMENTARY / World
Jul 28, 2022
Property crisis traps China into a market paradox
The effort to halt the spread of mortgage boycotts risks fueling the behavior officials are trying to prevent.
Japan Times
BUSINESS
Feb 1, 2022
Dashed dreams for China Evergrande's showpiece resort island
Officials in Danzhou city have ordered 39 of Ocean Flower Island's towers to be demolished over environmental and construction violations.
Japan Times
BUSINESS / Companies
Jan 12, 2022
World’s worst-performing bank lent billions to China Evergrande
Battered by mounting losses on loans to developers including China Evergrande Group, China Minsheng Banking Corp. saw their stocks tumble 31% in the 12 months through last week.
Japan Times
BUSINESS / Companies
Jan 5, 2022
Plan to demolish 39 towers in Hainan pose latest threat to Evergrande's fortunes
The order is among the most extreme in a spate of government actions to seize the firm's property and land holdings, underscoring risks to its most-prized assets.
Japan Times
BUSINESS
Dec 13, 2021
What could possibly go wrong? These are the biggest economic risks for 2022
Governments spent heavily to support workers and businesses in the pandemic. Many now want to tighten their belts.
Japan Times
BUSINESS / FOCUS
Dec 13, 2021
Abandoned projects shatter confidence in China’s home market
Across China, scores of unfinished apartment buildings — the legacy of a real estate boom gone awry in 2021 — are derailing countless dreams of owning a home.
Japan Times
BUSINESS
Dec 10, 2021
China Evergrande defaults on its debt. Now what?
A ratings agency's declaration confirmed what investors had already suspected, but they now must wait on a restructuring plan overseen by the firm hand of Beijing.
Japan Times
BUSINESS
Dec 8, 2021
Evergrande restructuring puts onus on China's Xi to limit contagion
For now, Chinese authorities plan to ring-fence Evergrande and limit contagion rather than orchestrate a rescue as they've done during past crises.
Japan Times
BUSINESS
Dec 7, 2021
Evergrande's debt deadline passes as Kaisa adds to China's property crisis
With $300 billion of liabilities, Evergrande is at the heart of a property crisis in China that has crushed almost a dozen smaller firms.
Japan Times
BUSINESS
Dec 6, 2021
After months of turmoil, restructuring of Evergrande debt looks imminent
The real-estate giant's situation poses a fresh test for Xi Jinping's government as it tries to rein in the country's financial excesses without derailing economic growth.
Japan Times
BUSINESS
Dec 3, 2021
Evergrande tycoon’s new banker is the ‘queen of shell companies’
China Evergrande Group billionaire Hui Ka Yan has turned to Pollyanna Chu, known for her connections to Hong Kong's tycoons, to help avert the collapse of his business empire.
Japan Times
BUSINESS
Nov 22, 2021
China property moguls use billions of their own cash on rescues
The move stands in contrast with counterparts overseas, where the concept of limited liability generally protects personal wealth from creditors' claims.
Japan Times
BUSINESS
Nov 17, 2021
One of Asia’s oldest hedge funds still bullish on distressed China debt
Hong Kong-based LIM Advisors has been buying distressed bonds in Chinese property developers even as the fallout from China Evergrande Group deepens.
No link to Nankai Trough quake seen after temblor in Shikoku
Satoshi Harada from the Meteorological Agency explains about the magnitude 6.6 earthquake during a news conference early Thursday.
Thousands evacuated as Indonesia volcano erupts
Indonesia's Mount Ruang spews hot lava and smoke as seen from Sitaro, North Sulawesi, on Wednesday.
Why hasn't Japan moved to prop up the weak yen?
Finance Minister Shunichi Suzuki speaks to reporters in Tokyo on Tuesday.
Snake on a train: Discovery of serpent delays Tokyo-Nagoya shinkansen
A Tokaido shinkansen. It is unclear whether the snake was venomous or how it ended up on the train, and there was no injury or panic among passengers.
In a first, Japan doctors sue Google over negative reviews on firm's map app
One of the lawyers representing a group of doctors suing Google told a news conference that the main purpose of the lawsuit is not to seek compensation but instead to raise awareness over various problems with the Google Maps system.
'House of the Owl' brings Hollywood values to Japanese TV
In the new Disney+ series “House of the Owl,” Min Tanaka (left) plays a powerful political fixer, or “kuromaku,” who has a troubled relationship with his adult children, particularly his idealistic son, played by Mackenyu.
Benefits and risks: AUKUS looks to take gamble on Japan
U.S. President Joe Biden, Australian Prime Minister Anthony Albanese and British leader Rishi Sunak deliver remarks on the AUKUS partnership, after a trilateral meeting, at Naval Base Point Loma in San Diego in March last year.
Kyoto’s demon night parade lives to haunt another day
In a Kyoto long past, the "hyakki yagyō" (100 demon night parade) haunted a sleepy corner of Kyoto. Now, one enterprising monster enthusiast has won a small batttle to keep the march alive.
U.S. deploys midrange missile system in Indo-Pacific for first time
A U.S. Army Mid-Range Capability (MRC) Launcher arrives as part of the capability’s first deployment into theater on Northern Luzon, Philippines, April 8.
Unpacking the chaotic by-election in a scandal-hit Tokyo district
People listen to a campaign speech in Tokyo's Koto Ward on Tuesday.

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