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China’s heavily indebted Evergrande ordered to liquidate

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FILE - A woman walks by a map showing Evergrande development projects in China, as she heads to an Evergrande city plaza in Beijing on Sept. 18, 2023. China’s central bank announced new rules late Wednesday, Jan. 24, 2024, meant to expand access to commercial bank loans for property developers, part of a raft of policies aimed at spurring the slowing economy and stabilizing financial markets. (AP Photo/Andy Wong, File)

China Evergrande Group is among dozens of Chinese developers that have collapsed since 2020 under official pressure to rein in surging debt the ruling Communist Party views as a threat to China's slowing economic growth.


Originally published at The Associated Press
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