{"id":49800,"date":"2023-08-17T19:27:12","date_gmt":"2023-08-17T23:27:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/struggling-chinese-real-estate-firm-evergrande-files-for-bankruptcy-as-crisis-for-sector-grows\/"},"modified":"2023-08-17T19:27:16","modified_gmt":"2023-08-17T23:27:16","slug":"struggling-chinese-real-estate-firm-evergrande-files-for-bankruptcy-as-crisis-for-sector-grows","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49800","title":{"rendered":"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows"},"content":{"rendered":"<div>\n<div class=\"article-sharing\">\n<ul class=\"article-sharing__container\" style=\"flex-direction: column;\">\n<li class=\"article-sharing__item\"><span class=\"screen-reader-text\">Share to Facebook<\/span><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"transform:scale(.9)\" class=\"fs-icon fs-icon--Facebook\" viewbox=\"0 0 24 24\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M22 12c0-5.5-4.5-10-10-10S2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12z\"><\/path><\/svg><\/li>\n<li class=\"article-sharing__item\"><a rel=\"nofollow\" class=\"social-icon color-change twitter\" onclick=\"window.open(&quot;https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fsites%2Fantoniopequenoiv%2F2023%2F08%2F17%2Fstruggling-chinese-real-estate-firm-evergrande-files-for-bankruptcy---as-crisis-for-sector-grows%2F&amp;text=Struggling%20Chinese%20Real%20Estate%20Firm%20Evergrande%20Files%20For%20Bankruptcy%20%E2%80%94%20As%20Crisis%20For%20Sector%20Grows%20via%20%40forbes&quot;, 'window', 'width=400,height=500')\" aria-label=\"Share Twitter\" data-ga-track=\"Twitter Click\"><span class=\"screen-reader-text\">Share to Twitter<\/span><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"fs-icon fs-icon--twitter\" viewbox=\"0 0 60 60\"><path d=\"M22.2 38.9c-3.4-.3-6.1-1.7-7.5-5.1h3.6c-3.9-1.4-5.6-4.3-5.9-8.4 1.2.6 2.3.7 3.5.7-2.1-1.6-3.6-3.4-3.7-6.1-.1-1.5.5-2.8 1.3-4 4.4 5 9.7 8.3 16.5 8.9v-2.7c.1-1.9.6-3.6 1.9-5.1 2.5-2.8 6.9-3.1 9.8-.7.2.2.5.4.7.6.2.2.4.2.7.2 1.1-.3 2-.9 3-1.4.5-.3 1.1-.6 1.7-1-.4 1.1-.9 2-1.5 2.8-.6.8-1.3 1.6-2.2 2.2 1.6-.2 3.2-.6 4.8-1.1-.3.4-.6.8-.9 1.1l-2.7 2.4c-.1.1-.2.3-.2.4.1 3.3-.6 6.5-1.9 9.6-1.9 4.2-4.7 7.5-8.6 9.9-2.5 1.5-5.2 2.4-8.1 2.9-5.5.8-10.5-.5-15.1-3.3-.1 0-.1-.1-.2-.1h.2c1.1.5 2.2.4 3.3.3 2.3-.2 4.5-.9 6.6-2.1l.9-.6v-.3z\"><\/path><\/svg><\/a><\/li>\n<li class=\"article-sharing__item\"><span class=\"screen-reader-text\">Share to Linkedin<\/span><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"fs-icon fs-icon--linkedin\" viewbox=\"0 0 60 60\"><path d=\"M44.9 33.2v11h-6.4V34c0-2.6-.9-4.3-3.2-4.3-1.8 0-2.8 1.2-3.3 2.3-.2.4-.2 1-.2 1.6v10.7h-6.4s.1-17.4 0-19.2h6.4V27.9v-.1c.8-1.3 2.4-3.2 5.8-3.2 4.1 0 7.3 2.7 7.3 8.6zM18.7 15.8c-2.2 0-3.6 1.4-3.6 3.3 0 1.8 1.4 3.3 3.5 3.3 2.2 0 3.6-1.5 3.6-3.3 0-1.9-1.3-3.3-3.5-3.3zm-3.2 28.4h6.4V25h-6.4v19.2z\"><\/path><\/svg><\/li>\n<\/ul>\n<\/div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New York on Thursday\u2014a blow following years of financial struggle that helped ignite China\u2019s ongoing property crisis.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>The filing will allow Evergrande to protect itself and its assets in the U.S. while it works through a multi-billion dollar restructuring plan announced earlier this year.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The filing comes days after another Chinese real estate behemoth, Country Garden, saw its stock plummet to its lowest price ever Monday, as the sector teeters on the brink.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Hong Kong and the Cayman Islands are referenced in the Chapter 15 petition as the locations of the restructuring proceedings.<\/p>\n<p>  <fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad>\n <\/div>\n<div class=\"key-facts-element\">\n<p>Evergrande\u2019s affiliate Tianji Holdings and subsidiary Scenery Journey also filed for Chapter 15 protection, according to Bloomberg.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Evergrande did not immediately respond to a request for comment.<\/p>\n<\/p><\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Big Number<\/h2>\n<p>$81 billion. That was the amount of net losses incurred by Evergrande in 2021 and 2022.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Forbes Valuation<\/h2>\n<p>$2.8 billion. That\u2019s <em>Forbes\u2019 <\/em>estimated net worth of Evergrande\u2019s chairman Hui Ka Yan, one of China&#8217;s biggest and most indebted real estate developers.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<p>Major Chinese Real Estate Developer Craters To Record Low As Potential Default Reminds Investors Of China\u2019s \u2018Real\u2019 Recession Risk (<em>Forbes<\/em>)<\/p>\n<p>China Evergrande Group Files Chapter 15 Bankruptcy in New York (Bloomberg)<\/p>\n<p>Developer at the heart of China\u2019s ongoing property crisis lost $81bn in the past two years\u2014more than Google or Microsoft\u2019s entire 2022 profit (<em>Fortune<\/em>)<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/antoniopequenoiv\/2023\/08\/17\/struggling-chinese-real-estate-firm-evergrande-files-for-bankruptcy---as-crisis-for-sector-grows\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Share to Facebook Share to Twitter Share to Linkedin Topline Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New York on Thursday\u2014a blow following years of financial struggle that helped ignite China\u2019s ongoing property crisis. Key Facts The filing will allow Evergrande to protect itself and its assets in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":49801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-49800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Share to FacebookShare to TwitterShare to LinkedinTopline Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=49800\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Share to FacebookShare to TwitterShare to LinkedinTopline Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=49800\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-17T23:27:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-17T23:27:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692314834_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=49800#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=49800\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows\",\"datePublished\":\"2023-08-17T23:27:12+00:00\",\"dateModified\":\"2023-08-17T23:27:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=49800\"},\"wordCount\":264,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=49800#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=49800\",\"url\":\"https:\/\/ifintechworld.com\/?p=49800\",\"name\":\"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-17T23:27:12+00:00\",\"dateModified\":\"2023-08-17T23:27:16+00:00\",\"description\":\"Share to FacebookShare to TwitterShare to LinkedinTopline Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=49800#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=49800\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=49800#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows | iFintechWorld","description":"Share to FacebookShare to TwitterShare to LinkedinTopline Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=49800","og_locale":"en_US","og_type":"article","og_title":"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows | iFintechWorld","og_description":"Share to FacebookShare to TwitterShare to LinkedinTopline Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New","og_url":"https:\/\/ifintechworld.com\/?p=49800","og_site_name":"iFintechWorld","article_published_time":"2023-08-17T23:27:12+00:00","article_modified_time":"2023-08-17T23:27:16+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1692314834_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=49800#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=49800"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows","datePublished":"2023-08-17T23:27:12+00:00","dateModified":"2023-08-17T23:27:16+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=49800"},"wordCount":264,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=49800#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=49800","url":"https:\/\/ifintechworld.com\/?p=49800","name":"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-17T23:27:12+00:00","dateModified":"2023-08-17T23:27:16+00:00","description":"Share to FacebookShare to TwitterShare to LinkedinTopline Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in New","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=49800#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=49800"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=49800#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Struggling Chinese Real Estate Firm Evergrande Files For Bankruptcy \u2014 As Crisis For Sector Grows"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/49800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49800"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/49800\/revisions"}],"predecessor-version":[{"id":49802,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/49800\/revisions\/49802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/49801"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}