china property pkg
The stakes are too high to let Evergrande fail. Here's why (2021)
The property sector accounts for nearly 30% of China's GDP, with the vast majority of household wealth estimated to be tied up in property. But as Beijing tightens its grip, fears grow of a crisis in China's real estate sector that ripples into the broader economy. CNN's Selina Wang reports.
03:13 - Source: CNNBusiness
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china property pkg
The stakes are too high to let Evergrande fail. Here's why (2021)
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An aerial view shows the Evergrande Changqing community on September 26, 2021 in Wuhan, Hubei Province, China. In 2015, Evergrande real estate acquired four super large projects in Haikou, Wuhan and Huizhou, with a total construction area of nearly 4 million square meters and a total amount of 13.5 billion yuan. Evergrande, China's largest property developer, is facing a liquidity crisis with total debts of around $300 billion. The problems faced by the company could impact China's economy, and the global economy at large.
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