Evergrande Liquidation
One of China’s largest real estate developers has been ordered to liquidate by a court in Hong Kong. Evergrande is the world’s most indebted developer, with more than 270 billion euros worth of liabilities. The order came after efforts to strike a deal with creditors failed. But the liquidation process could be complicated. Numerous authorities are involved and there are political considerations. Liquidation could have a major effect on China’s economy and global markets.
00:00 Intro and report
02:19 DW’s Phoebe Kong reports from Hong Kong
06:58 DW’s Lars Halter reports from the studio
#China #Evergrande #Debt
Credit to : DW News
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