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A Chinese property giant is a $300 billion time bomb for Beijing

·4 min read
A Chinese property giant is a $300 billion time bomb for Beijing

For decades, the Chinese developer Evergrande Group was an embodiment of the success of the rapidly growing Chinese economy. Increasing disposable personal income fueled a growing passion for purchasing property which in turned propelled the rise of Evergrande, as well as its billionaire founder Xu Jiayin. Evergrande is a bellwether for the sector, given its gigantic footprint across the country of more than 1,000 projects.