said construction is progressing at some of its residential projects in southern China, as the highly indebted developer tries to stave off collapse and deliver the homes it has promised to more than a million people.
The weekend updates from the company’s onshore property-development business came shortly after Evergrande surprised international investors and dodged a default byon around $2 billion of outstanding dollar bonds, according to a Chinese state-owned media outlet. On Monday, two financial-industry professionals said their Evergrande bondholder clients have received the payments.
Evergrande, China’s most indebted property developer, has kept global markets on edge and sparked protests at home as it struggles to survive. WSJ explains why the company’s crisis is raising questions about the state of the world’s second-largest economy. Photo: Alex Plavevski/Shutterstock
Trump must have a hand in this company since everything you touches fails
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