What Is Happening With Evergrande?
Evergrande is the second‑largest property developer in China by contracted sales (USD 111 billion in 2020). It has a 5% market share in the sector, which, together with the supply chain, composes over a quarter of economic activity in China. The company has undergone aggressive debt‑funded growth in the past few years as the sector grew rapidly, with urbanization remaining a focus in Beijing's five‑year plans. As of June 2021, Evergrande had a total liability of more than USD 300 billion, almost triple what it had at the end of 2015.
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