Inside the downfall of China Evergrande Group, embattled property developer

In the beginning, Hui Ka Yan followed a simple formula. Borrow to buy land. Sell homes on the site before they are built. Use the cash to pay lenders and finance the next real estate project. For two decades, starting in the mid-1990s, this approach was enormously lucrative as Chinese home prices…#hui #kayan #chinaevergrandegroup #annestevensonyang #jcapitalresearch #countrygarden #xijinping #henanprovince #beijing #hongkong

Source: Reuters: Health - September 3, 2023 Category: Consumer Health News Source Type: news