“Debts plaguing China’s top property giant Evergrande Group are a wake-up call for the country’s economy. An estimated 1.4 million Evergrande units all over China are now uncertain whether the properties they paid for will ever be built. Dozens of angry and worried investors picketed Evergrande’s headquarters in the southern city of Shenzhen for weeks. They had bought investment products from Evergrande that now look nearly worthless, as its Hong Kong-listed stock plummeted by nearly 90 per cent in value this year. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
#China #Evergrande #HongKong
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