Evergrande Crisis explained | Impact of China's Evergrande Crisis on India | Zeemasons

What is Evergrande? Evergrande is an enormous—and heavily indebted—private-sector Chinese property developer and home builder that is close to defaulting on some of its billions of dollars in debt. The most urgent immediate deadline was Sept. 23, when the company had an $83.5 million interest payment due on some of its dollar-denominated bonds. Evergrande had nearly $78 billion in revenue last year and hundreds of projects in more than 200 Chinese cities. For years it used borrowed money and presold apartments to aggressively amass land and develop projects. Along the way the company paid out billions of dollars in dividends to shareholders, including the equivalent of more than $5 billion over the past three years to founder, top shareholder and Chairman Hui Ka Yan. #evergrande #boycottchina #chinacrisis #hatechina #india

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