Evergrande creditors storm China property group’s HQ

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China is bracing itself for the possible property group Evergrande could default on its huge $300 billion debt pile. Many of Evergrande's creditors are ordinary Chinese who may lose much of their life savings.

Chinese real estate giant Evergrande, saddled with around $300 billion in debt, has been struggling to meet interest payments on its loans. If it collapses, some of its partner firms could be driven to bankruptcy, prospective homebuyers could lose deposits and some banks would lend less money, which would lead to a credit crunch in the world's second-biggest economy.

's team reports.

 

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