China developer Evergrande posts losses for first half of the year

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BEIJING: Heavily indebted Chinese property giant Evergrande Group on Sunday (Aug 27) announced it had suffered losses for the first half of the year. The developer's January to June losses amounted to 33 billion yuan (US$4.53 billion), compared to 66.4 billion yuan lost in the same period last year, a

BEIJING: Heavily indebted Chinese property giant Evergrande Group on Sunday announced it had suffered losses for the first half of the year.

Once China's top property developer, Evergrande is drowning in a sea of debt and has become a symbol of a property crisis that continues to send shudders through the world's number two economy.

 

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