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What is the ongoing crisis at one of China's biggest companies Evergrande?
short by Pragya Swastik / on Tuesday, 21 September, 2021
Chinese real estate developer and wealth management company Evergrande Group, which became one of China's biggest companies by borrowing over $300 billion, is struggling to meet the interest payments on its debts. The company has started to repay investors with properties as it struggles to find cash. It reportedly owes money to 171 banks and 121 other financial firms.