Evergrande forced to demolish 39 housing projects in 10 days

China 01/04/22, 19:06

The Urban Administrative and Law Enforcement Bureau of Danzhou City, China, issued a court order on the first day of the new year 2022 that requires Evergrande to dismantle some of its illegal construction projects in 10 days. Evergrande's Ocean Flower Island, a megaproject in the third-phrase completion located in Danzhou, Hainan Province, ...

Evergrande officially defaulted, Chinese creditors file lawsuits

China 12/21/21, 16:19

China Evergrande, the former real state giant, is officially confirmed defaulted on Dec. 17th by credit rating agency Standard & Poor's Global as it failed to pay its bond payments earlier this month. S&P said Evergrande had requested the rating to be withdrawn following a downgrade to 'selective default'. Rating companies ...

Haikou authorities take multiple Evergrande land lots without compensation

China 12/18/21, 06:45

Chinese property developer Evergrande has had many of its land lots confiscated by the Haikou authorities, according to The Epoch Times.  The Haikou City Planning and Resources Department explained in a notice on Dec. 13 that it was due to expired real estate ownership certificates. Haikou is the capital city of the ...

Gloomy economy: China faces substantial wave of staff layoffs

China 12/15/21, 08:04

China’s economy is facing more perils than ever. One of those was the chain of layoffs nationwide. According to Epoch Times, since the beginning of September, many other real estate companies such as Fantasia and Xinli Holding have continuously announced the layoffs of employees. As of September 5th, a total of ...

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