EVERGRANDE GROUP

PwC said in a statement to Reuters on Wednesday that Shanghai-based Li assumed the role of chairman of PwC China and Asia Pacific with effect from July 1, taking over from Raymund Chao who retired on June 30. The firm came under the Chinese regulato...

Lawyers for China Evergrande Group's liquidators are investigating its former auditor, PwC, and other service providers to recover losses for creditors. Ordered into liquidation in January due to defaulting on $23 billion in offshore debt, Evergrand...

China is set to impose a record fine on PricewaterhouseCoopers LLP and may suspend some of its local operations due to its involvement in a major financial fraud case with China Evergrande Group. The Ministry of Finance is expected to announce the p...

Shares of China Evergrande New Energy Vehicle Group doubled after liquidators agreed to sell a stake in the EV maker.

China grapples with a colossal housing crisis, with millions of unoccupied apartments and unfinished developments, threatening its economy. Beijing's plan involves massive state intervention, buying unsold properties and converting them into social ...

China has taken decisive measures to tackle the crisis in its property sector, which has been a crucial driver of its economic growth. The People's Bank of China has announced a 300-billion-yuan relending facility to support government-subsidized ho...

Evergrande was granted an earlier reprieve after it said it was attempting to "refine" a new debt restructuring plan of more than USD 300 billion in liabilities. Evergrande, the world's most indebted property developer, is one of many property firms...

"Trading in the shares of... Evergrande Property Services Group Limited has been halted at 10:19 a.m today," the city's stock exchange said. It also halted trading in its electric vehicle subsidiary at the same time.

Evergrande is one of the biggest developers to have defaulted on its debts. But others including Country Garden, China's largest real estate developer, have also run into trouble, their predicaments rippling through financial systems in and outside ...

“If Evergrande fails to deliver an improved restructuring plan that meets the demands of the ad hoc group of creditors, the Hong Kong court is very likely to grant a winding-up order against the company,” said Lance Jiang, a partner at law firm Ashu...

Judge Linda Chan presides over an unprecedented wave of Chinese corporate defaults, holding real estate giants like Evergrande accountable. Chan's courtroom decisions, pushing for creditor recovery and challenging distressed companies, reveal the co...

Police in Beijing said in a statement on WeChat that they took "criminal mandatory measures" against multiple suspects, identifying one by the last name Xie. They urged investors to report cases or provide leads to the authorities, including filing ...

"Trading in the shares of China Evergrande Group will be resumed at 9:00 am today," the statement said.

That’s the view from nine of 15 respondents in an informal Bloomberg News survey of analysts and money managers based in Hong Kong and mainland China. Six of them listed housing woes as the biggest risk for equities for the final quarter of 2023. Ge...

China Evergrande Group has reportedly sold its luxury superyacht, Event, for about $32 million as part of its efforts to sell non-core assets amid its worsening cash crunch. The sale further reduces Evergrande's offshore assets, which could be of co...

Trading in the company's shares was suspended earlier in the day after a report that its chairman had been placed under police watch. Evergrande said shares will remain suspended until further notice.

On Monday, shares of the world's most indebted property firm resumed trading after a 17-month halt in a crucial step for the developer to restructure its offshore debt.

The stock had been suspended since March 21, 2022. Its Hong Kong-listed units, China Evergrande New Energy Vehicle Group and Evergrande Property Services Group have both resumed trading in the past month after a 16 month halt.

The move protects it from creditors in the US while it works on a restructuring deal elsewhere. The Chinese homebuilder's Chapter 15 petition references restructuring proceedings being carried out in Hong Kong and the Cayman Islands.