FILE - In this Sept. 15, 2021, file photo, a man bicycles past an Evergrande new housing development in Beijing. The troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets wired $83.5 million on Friday, Oct. 22, 2021 to make an overdue payment to foreign bondholders, a government newspaper reported. (AP Photo/Andy Wong, File)
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Evergrande avoids default but faces another deadline
Evergrande has made an $83.5 million interest payment on a dollar-denominated bond that was due last month, according to Chinese state media. CNN's Selina Wang reports.
02:36 - Source: CNNBusiness
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FILE - In this Sept. 15, 2021, file photo, a man bicycles past an Evergrande new housing development in Beijing. The troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets wired $83.5 million on Friday, Oct. 22, 2021 to make an overdue payment to foreign bondholders, a government newspaper reported. (AP Photo/Andy Wong, File)
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Evergrande avoids default but faces another deadline
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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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