Chinese property sector crisis (2020–present)

240: 127: 33: 6309: 1027:, one of China's largest property firms, put 19,000 square metres of land up for sale on 18 May 2024 at a discount of 29%, (900 million yuan or US$ 125 million) on the price it paid in 2017. The sales was meant to enable the property developer to pay down its debts. The newspaper also added that the company's woes were different from such struggling developers as Evergrande or Country Garden. Shenzhen Metro, a state-owned firm, held about a quarter of Vanke's shares at the time, giving Vanke good access to state funds. Vanke had also been included on a government list of “high-quality” developers in 2023. 984:, Evergrande bonds traded at one percent of their face value in February 2024. The report stated that this could serve as a warning to global investors in other Chinese property companies, e.g. Country Garden Holdings: "Investors probably did not fully appreciate the risk of state intervention. Apportioning losses between domestic creditors and foreign creditors will be political," David Knutson, chair of The Credit Roundtable, was quoted as saying. In February 2024, Evergrande liquidators also prepared for a potential lawsuit against its former auditor 275: 356:. As sales of the products fell, their business model became unsustainable. An Evergrande executive was quoted in 2021 as saying "Many people ... might be arrested for financial fraud if investors don't get paid off. Our products were not for everyone. But our grassroots salespeople didn't consider this when making their sales pitches and they targeted everyone in order to meet their own sales targets." Other Chinese companies that sold wealth management products included 909:

payment obligations, including with regard to dollar-denominated bonds. Country Garden shares slumped over ten per cent to HK$ 0.75 on the day of the statement. One of its US dollar bonds fetched about 7 cents on the dollar on the day, according to Bloomberg data. Company filings showed that, in the twelve months leading to September 2023, contracted monthly sales measured in billions of yuan had dropped from about 33 billion to 6 billion yuan. In October,

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6.25 billion) to 55 billion yuan, after a net profit of around 1.91 billion yuan in the same period in 2022. The company's shares fell up to 14.4 per cent to a record low on the day following the profit warning, closing below 1 HKD for the first time. Its stock was down 30% the following week. The actual loss for the first half year announced on 30 August 2023 was 48.9 billion yuan (US$ 6.7 billion).

341:, with an anonymous executive suggesting they were "too risky for retail investors and should not have been offered to them". They were marketed widely. Evergrande managers, for instance, pressured subordinates to purchase products advertised at over 10% annual return. Total WMP liabilities stood at 40 billion RMB in September 2021. 565:, to tackle real estate speculation. However, the report detailed widespread resistance within the Chinese Communist Party (CCP), leading to an alternative proposal to provide state-owned housing. On 23 October, a five-year trial of the proposed tax was announced for select regions with high real estate prices, most likely 239: 976:

However, the Hong Kong court decision came on the same day as a memorandum of understanding between Hong Kong and Beijing on the reciprocal enforcement of rulings in civil cases came into effect. This memorandum of understanding states that cross-border enforcement can be refused if legal proceedings

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In August 2023, Country Garden Holdings warned of a large net loss for the first six months of 2023 due to impairment on property projects and declining profit margins. Country Garden was the largest private property developer in China. Its loss was expected to be in the range of 45 billion yuan (US$

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On 23 February 2022, Marco Metzler stated that Evergrande could no longer be successfully restructured, based on an analysis by ratings agency Fitch. In this analysis, a liquidation of the company would return only between 0% and 10% of principal to creditors. Metzler was Chairman of FMPC Consulting,

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Evergrande stated on 19 March 2024 that the China Securities Regulatory Commission (CSRC) had found that the company had overstated its revenue in 2019 by 214 billion yuan (nearly US$ 30 billion), or about half, and in 2020 its revenue was overstated by nearly 80%, or 350 billion yuan (US$

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On 17 July 2023, Evergrande made public that it had made a net loss attributable to shareholders of 476 billion yuan (US$ 66.3 billion) for 2021 and of 105.9 billion yuan (US$ 14.7 billion) for 2022. The group stated that its total liabilities on 31 December 2022 stood at 2.43 trillion yuan (roughly

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In a statement on 31 August 2021, Evergrande warned it would default on its debts if it failed to raise enough cash to cover them. At the time, Evergrande was China's most indebted real estate developer, and had several large bond payments to make for the foreseeable future. On August 31, Evergrande

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On 4 December 2023, a Hong Kong court granted Evergrande Group another reprieve by adjourning a hearing until 29 January 2024, thereby allowing the company more time to restructure its debts. On 29 October 2023, at the previous adjournment, Hong Kong High Court Justice Linda Chan had

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In a New York court on 18 August 2023, Evergrande filed for bankruptcy protection under chapter 15 of the US bankruptcy code, which protects its US assets while it attempts a restructuring deal. On 28 August 2023, Evergrande stock plunged in Hong Kong as trading resumed after a 17-month suspension,

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Property sales remained slow into 2023. According to one senior economist, sales were slowed by a property price floor imposed by the government to prevent developers from cutting prices. However, at the same time, the government was discussing a proposal to introduce a property tax, which had the

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Sales by the top 100 developers in mainland China had fallen by about 33 per cent year on year in July 2023, according to China property consultancy CRIC. According to analysts, a rise in default by "shadow banks" (as trust companies are also known) with strong ties to the Chinese property sector

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On 22 March 2022, Evergrande said that it would delay the release of its financial results for 2021 due to "ongoing audit work"; in that week, about 13.4 billion yuan (US$ 2.11 billion) in deposits were seized by banks from its property services unit Evergrande Property Services Group because the

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originally said that the December hearing would be the last before a decision was made whether to liquidate Evergrande in the absence of a "concrete" restructuring plan. However, Evergrande applied for adjournment on 4 December, which was unexpectedly not opposed by the petitioner's lawyer.

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In August 2023, it was estimated that there were 60 to 80 million empty apartments in China. Referring to properties marketed by Evergrande, Anne Stevenson-Yang of J Capital Research opined in summer 2023 that many such properties in the past were "sold as a speculative investment, not sold as a

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On 17 March 2022, stocks of Sunac, China's third-biggest property developer by sales, were downgraded to a B− credit rating by ratings agency S&P, because of concerns that the company might not be able to meet its very large debt repayments of nearly US$ 4bn for 2022. The company's liquidity

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The ratings agency Fitch further downgraded Evergrande Group and Kaisa on 9 December 2021 from "C" to "RD", thereby declaring that both groups had defaulted on offshore bonds. Fitch attached a so-called "restricted default" status to this downgrade. Neither developer had yet officially announced

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was the ninth largest trust company in China, with about 600 billion yuan in assets under management, and was part-owned by Zhongzhi. On 14 August 2023, reports warned of an increased contagion risk, because Zhongrong missed its obligations for repayment on some investment products. Two Chinese

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Although Country Garden was able to make its bond payments at the beginning of September 2023, on 10 October 2023 the company stated that it had failed to pay a HK$ 470 million (US$ 60 million) principal when due. The company added that it did not expect to be able to meet all its offshore

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On 7 December 2021, it was reported that Evergrande had for the first time missed a deadline for payment of interest on US dollar bonds at the end of a 30-day grace period, with no sign of payment. A day later, trading in shares of the similarly embattled Chinese property developer Kaisa Group

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On 29 January, Evergrande was ordered to liquidate, when a Hong Kong-based court found that it did not have a viable restructuring plan. Trading was halted for stocks in China Evergrande, China Evergrande New Energy Vehicle Group, and Evergrande Property Services. Upon trading being halted on

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By June, there were reports that property developers were using incentives such as cars and mobile phones to promote apartment sales. Huafa Tianfu, a developer in Hangzhou, offered up to 1 kg of gold as a reward for buying an apartment (450,000 yuan, around 18% of the apartment's value).

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On 24 September 2021, Evergrande missed off-shore bond payments totalling US$ 83.5 million. While the company had 30 days to avoid defaulting on the debt, analysts felt it was unlikely to manage doing so. On 12 October, Evergrande missed payments on three offshore bonds which totalled US$ 148

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from B+ to B, and further downgraded it to CCC+ on 28 July. According to the company, the initial downgrade reflected "ongoing pressure for Evergrande to downsize its business and reduce total debt", the latter action due to "Evergrande's diminishing margin of safety in preserving liquidity".

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Evergrande promised but failed to deliver a preliminary debt restructuring plan by 31 July 2022. Instead, the company offered details on "preliminary restructuring principles" for its offshore debt; Evergrande added that it aimed for "a specific offshore restructuring plan within 2022." On 2

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government that it was at risk of experiencing a cash crunch, shares plunged, impacting global markets which led to a slow-down of foreign investment in China. The company unsuccessfully attempted to sell assets to generate money, missed several debt payments, was downgraded by international

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While Evergrande had announced in March 2021 that it was looking to cut its debt load by 150 billion RMB (US$ 23.3 billion), it was still expanding, having launched 63 new projects in the first half of 2021. By 8 October 2021, 14 of China's 30 biggest developers had violated the three lines

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On 20 October, they announced that the deal had fallen through and applied to reopen trading on its shares. Except for a stake in a regional bank, as of that date "there has been no material progress on sale of assets of the group" according to Evergrande. In response, shares fell 13.6%.

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On 22 November 2023, Zhongzhi Enterprise Group warned investors that it was not able to repay its debts; the wealth management company stated that its total liabilities were at least 420 billion yuan (US$ 59 billion), with a shortfall of up to 260 billion yuan (US$

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was growing. Average land values in China tripled by 2009, and continued to 2011, when values temporarily stopped growing. Due to fiscal reforms from previous decades, local governments had become increasingly reliant on infrastructure development to earn revenue, through

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reported that he was suspected of transferring assets offshore while it was still unclear whether the indebted property developer would be able to complete all its unfinished projects. Several important figures from Evergrande were also arrested in the preceding days.

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In 2021, new regulations prohibited financial institutions from providing fresh liquidity to local government financing vehicles. Following these regulations, local governments are required to raise funds through issuing bonds, subjecting them to stronger oversight.

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province that they were close to running out of cash. Initially, the company claimed that the letter was fabricated. Evergrande denounced the letter as "pure defamation", and made a number of public announcements to reduce fears from investors and the public.

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Chinese homebuyers started boycotting mortgage payments in the middle of 2022. Data from the website "WeNeedHome" showed that homebuyers were boycotting payments for 343 projects in mid-September 2022. This was an increase from 318 projects in early July.

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to advise them ahead of a potential restructuring in September. In the second week of October 2021, they informed the bondholders that they expected an Evergrande default to be "imminent" and that the company had failed to engage with them "meaningfully".

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Holdings was suspended after an anonymous source said that Kaisa would probably not meet a deadline for $ 400 million offshore debt. In early December 2021, Kaisa was the second-largest holder (after Evergrande) of offshore debt among developers.

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Evergrande crossed all three red lines, resulting in a liquidity crisis and its later insolvency. Evergrande had leveraged itself heavily before 2020, which meant the three red lines was supposed to have a major impact on their borrowing. The

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Trading of Evergrande's shares was halted on 3 January 2022. In a filing submitted the next day, Evergrande committed to trading again in the future, but noted that its 2021 sales were 43.02 billion yuan ($ 70 billion), down 39% from 2020.

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On 11 October 2021, developer Sinic Holdings Group Co. warned that it was unlikely to be able to pay off a US$ 250 million bond due on 18 October 2021. At the time of the announcement, Sinic had US$ 694 million of dollar bonds outstanding.

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Vanke booked a loss of 1.7bn yuan in the first quarter of 2024. Its sales fell by 43% year over year. The company owed 320 billion yuan (US$ 44 billion) in May 2024, with nearly 10% of this debt due for repayment in 2025.

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On 28 September 2021, Sunac bought back $ 34 million of its bonds and denied requesting government assistance. A letter, which the developer claimed was merely a draft, surfaced online arguing that recent regulations in

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On 15 August, Country Garden sought to delay payment on one private onshore bond, and suspended trading of 11 other onshore bonds, making some analysts believe that the company was preparing for a debt restructuring.

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City, Hainan. The government stated that these buildings were built illegally. With an 8-square-kilometer planned area and an investment of roughly 81 billion yuan, Haihua Island would have been the world's largest

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noted that if Country Garden were not to meet a deadline for a bond payment at the beginning of September 2023, it would become the biggest Chinese real estate firm to default since the Evergrande default in 2021.

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million. By this date, the developer had missed five bond payments during the crisis. On 20 October, Evergrande paid off US$ 83.5 million worth of interest in order to avoid a default on the 24 September bonds.

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48.6 billion). The CSRC also suspected problems with the bonds Evergrande issued. The regulator fined Evergrande 4.2 billion yuan (US$ 333 million) for falsifying its revenue, among other violations.

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had a total exposure of $ 400 million across all its funds, with one of its high-yield funds having acquired an additional $ 18 million worth of bonds in August. Other companies have had smaller exposure, with

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On 27 December 2021, the People's Government of Danzhou issued a notice asking Evergrande to demolish 39 of the buildings on its Ocean Flower Island, or Haihua Island, project, which is off the coast of

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On 22 August 2024, PricewaterhouseCoopers LLP’s China unit told its customers that it expected to be banned from working in China for six months due to its involvement in the Evergrande scandal.

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September 2022, a Hong Kong High Court judge rescheduled to 7 November 2022 legal proceedings to wind up China Evergrande Group, in order to give the company time to formulate a restructuring plan.

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delisted Evergrande Group. Reasons why companies are delisted are typically not given by the index. Any delisting is likely due to the poor performance of the company since the crisis began.

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was addressed largely through local government investment in infrastructure, which further contributed to a reliance on increasing land value, despite accumulating larger and larger debts.

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to meet government-imposed lending quotas. On 20 February 2022, various Evergrande contractors reported that assets worth over US$ 150 million had been frozen on orders of Chinese courts.

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missed a payment on a US$ 206 million bond that had matured the day before, triggering a default. Just weeks prior, the developer had assured investors it had "no liquidity issue".

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On 10 November 2021, Evergrande defaulted on three additional bonds after missing the grace period for interest payments, but reportedly fulfilled the payments after the deadline.

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US$ 340 billion), up from 2 trillion yuan in September 2021. Court hearings on the restructuring of the group's debts were to be held in July 2023 in Hong Kong and the Caribbean.

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In 2021, Evergrande was estimated to have $ 19 billion in overseas liabilities. American and European companies had significant exposure to Evergrande through their holding of

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tumbling by 79 per cent to 35 HK cents, as opposed to the pre-suspension price of HK$ 1.65 on 21 March 2022. The record stock price in October 2017 had been over HK$ 31.

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started to tighten the real estate market based on the principle that "property is to be lived in, not to be speculated on." He had previously made this statement during the

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On 19 October 2021, Sinic defaulted on US$ 246 million worth of bonds. The same day, official figures showed real estate output in China was down 1.6% in the third quarter

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As concern over the state of the Chinese economy and its dependence on loans increased, Chinese banks decreased their traditional lending activity and purchasing low-risk

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At the beginning of March, Country Garden missed a payment of 96 million yuan due to Chinese onshore bondholders; the note had a 30-day grace period, however.

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to protect home-buyers and continue construction of the company's developments. Various provinces followed suit as the developer put hundreds of projects on hold.

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of the Evergrande Group, was put under "mandatory measures" (a kind of detention by the authorities) for suspected illegal activities on 28 September 2023.

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published data indicating that home prices had fallen month-on-month for the first time since April 2015, dropping in more than half of the cities surveyed.

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was set to buy a 51% stake in the Evergrande Property Services subsidiary for around US$ 5 billion. On the same day, Evergrande froze its shares on the

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are initiated in Hong Kong before a mainland Chinese court hears the case or the defendant is not given a reasonable opportunity to mount a defence.

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On 15 October, the Chinese government commented for the first time on the Evergrande situation, blaming the company for its problems and saying that

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In November, it was reported that the Chinese government was working behind closed doors to restructure Evergrande, in order to resolve the crisis.

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On 15 March 2022, Evergrande's share price sank to a new all-time low of HK$ 1.16 (US$ 0.15), down from a high of over HK$ 31 in October 2017.

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potential to resolve local government debt problems, but which could reduce land value by 50%. In April, the government completed a unified

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this statement set off "alarm bells" in a trust sector that had invested a large portion of investors’ money in real estate projects.

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downgraded Evergrande's rating from B2 to Caa1. On 5 August, S&P Global Ratings downgraded Evergrande and its subsidiaries from

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In order to raise capital, the group started to sell off some of its assets. On 29 September 2021, the company sold a 20% stake in

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reported that "Evergrande used retail financial investments to plug funding gaps". The company raised billions of dollars through

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In the last week of August 2021, a letter became widely circulated online. In the letter, Evergrande informed the government of

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On 30 August, Country Garden warned it was on the "brink" of default in a filing to the Hong Kong Stock Exchange, according to

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violated one of the regulations. The developers mentioned had total sales in 2020 of over 4.34 trillion RMB (US$ 672 billion).

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and used the money to plug holes in its own funding and to repay other wealth product investors. The products sold were highly

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In early 2023, the government began to soften its approach to the three red lines in an effort to increase market confidence.

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On 14 August, state-backed developer Sino-Ocean announced that it had missed nearly US$ 21 million in interest payments.

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called this steep drop "a crisis of confidence" that had deprived Country Garden of a "crucial source of cash flow".

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to CCC, two steps on its scale, qualifying it as having extremely speculative credit worthiness. On 7 September,

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cancellations, caused a slowdown in the property sector, as authorities attempted to control rising house prices.

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In the years preceding the 2021 crisis, Evergrande had pursued an aggressive expansion, including ventures in

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29 January, the China Evergrande Group stock price had fallen to a record low of HK$ 0.16 (US$ 0.02).

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of a US$ 250 million bond on Monday and the prices of Sunac and Guangzhou R&F bonds fell sharply.

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to review its balance sheet, as the Chinese banking regulator set up a taskforce to examine risks.

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place to live, so obviously the confidence game will only work as long as people keep buying."

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Following widespread online sharing of a letter in August 2021, in which Evergrande warned the

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estimated that the trust sector's exposure to real estate was around 10% of total assets.

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position was revised downward from "less than adequate" to "weak" by the ratings agency.

4113:"Chinese developer Country Garden reports $ 6.7bn loss amid fears of another Evergrande" 3986:"China's property crisis deepens as another huge developer risks default | CNN Business" 3955:"2007: Country Garden Holdings Co Ltd Stock Price Quote - Hong Kong - Bloomberg Markets" 3858: 3766: 2843:"Fitch Downgrades Evergrande and Subsidiaries, Hengda and Tianji, to Restricted Default" 6849: 6720: 6647: 5535: 5447: 5352: 4722: 4701: 1287: 928: 777: 636: 591: 458: 361: 318: 131: 92: 68: 3338:"China Mortgage Boycott Widens as Homebuyers Demand Construction, Environment Quality" 6885: 6819: 6798: 6682: 6677: 6657: 6652: 6353: 6213: 5198: 5123: 5116: 5109: 5087: 5071: 5063: 5056: 5042: 5012: 5005: 4998: 4956: 4949: 4942: 4913: 4752: 4745: 4671: 4643: 1319: 697: 658: 512: 508: 496: 462: 357: 96: 4345:"China Evergrande Group ordered to liquidate; Hong Kong trading suspended - UPI.com" 3639:"China's struggling property giant Evergrande files for bankruptcy protection in US" 2203:"Evergrande avoids default, repays $ 83.5 million worth of interest in dollar bonds" 5527: 5278: 5079: 4650: 4191:"China's troubled US$ 137 billion shadow bank plans debt restructuring, hires KPMG" 2095:"Speculation nation: Can Xi Jinping's property tax deflate China's housing bubble?" 901: 730:

processes. On 10 December 2021, a third party forcibly sold about 3.4% of Chairman

683: 562: 67:. The crisis spread beyond Evergrande in 2021 to such major property developers as 4158:"Country Garden misses bond payment, risks default on US$ 180 billion liabilities" 594:, retaining 15%, raising 10 billion RMB (US$ 1.5 billion). On 4 October 2021, the 3514:"Country Garden warns of large first-half loss amid real estate sector pressures" 1177:"Evergrande collapse: Hong Kong court orders liquidation of China property giant" 224:

taken on by developers, limiting their borrowing based on the following metrics:

6823: 6774: 6768: 6762: 6756: 6744: 6340: 6238: 5781: 5238: 4837: 4694: 4664: 4566:"320,000,000,000 CNY to USD - Chinese Yuan Renminbi to US Dollars Exchange Rate" 4285:"Chinese shadow bank says deeply insolvent after US$ 36 billion asset shortfall" 3677:"Evergrande sinks 79% in Hong Kong trading before creditors vote on rescue plan" 1610: 939: 888: 548:

took control of sales revenue for Evergrande's properties in a state-controlled

338: 298: 164:, land value became central to the financial security of local governments. The 3187:"China property shares soar on Beijing stimulus, despite continued debt crisis" 114:) by Evergrande alone. In September 2023, He Keng, a former deputy head of the 6184: 6105: 3737:"Evergrande founder underestimated Xi Jinping's 'determination', analysts say" 3609:"China Evergrande reports steep losses, offers update on offshore debt revamp" 773: 731: 640: 233: 205: 64: 4544: 4124: 3925:"Evergrande liquidation hearing pushed to Jan, focus on new debt revamp plan" 3650: 3383: 2946: 2698: 2644: 2276: 2106: 2037: 1994:"Chinese cities seize Evergrande presales to block potential misuse of funds" 1311: 1188: 943:

companies said Zhongrong had not paid them in time for maturing investments.

6780: 6667: 6662: 2935:"S&P Joins Major Credit Raters in Declaring China Evergrande in Default" 2171:"Evergrande bondholders say they have not received $ 148m interest payments" 1809:"Fitch Downgrades Evergrande and Subsidiaries, Hengda and Tianji, to 'CCC+'" 561:

reported that the central government was planning to implement a nationwide

524: 474: 175:

and 2017 the stock price of the second largest property developer in China,

83: 4408:"China Evergrande's liquidators prepare to sue PwC over audits, FT reports" 4016:"Country Garden reports US$ 6.72 billion first-half loss as problems mount" 3217:"Evergrande to delay 2021 results on audit struggle as restructuring looms" 3070:"Chinese banks cut back traditional lending as concern over economy mounts" 2403:"Advisers say Evergrande failing to engage with investors as default looms" 2132:

Hale, Thomas; Kinder, Tabby; Lockett, Hudson; Yu, Sun (24 September 2021).

1681:

Hale, Thomas; Langley, William; Indap, Sujeet; Lin, Andy (18 August 2023).

4496:"Developer Country Garden downplays hiring Kroll for liquidation analysis" 3954: 3278:"Evergrande has failed to deliver the debt restructuring plan it promised" 2874:"Evergrande, Kaisa cut by Fitch to default after missed payment deadlines" 2633:"'It's legalised robbery': anger grows at China's struggling shadow banks" 2631:

Hawkins, Amy; correspondent, Amy Hawkins Senior China (18 February 2024).

1899:"Fitch Downgrades Evergrande and Subsidiaries, Hengda and Tianji, to 'CC'" 106:, as well as banks, suppliers, and foreign investors were owed 2 trillion 59:, experienced financial stress in the wake of overbuilding and subsequent 6672: 4629: 3479:"Contagion fears spread as China property sector cash crunch intensifies" 3247:"Evergrande sells Crystal City to pay debt as banks close in on deposits" 1545:"Guangzhou Evergrande – China's richest football club in need of bailout" 1515:"The road gets bumpy for billionaires investing in China's electric cars" 1418:"China economy: will hot property market threaten post-pandemic rebound?" 1345: 1010:

In June the liquidation hearing was pushed off further, until late July.

632: 570: 566: 135: 107: 4437:"China accuses property developer Evergrande and founder of £60bn fraud" 4080:"Embattled Chinese property developer Country Garden at risk of default" 3829:"China Evergrande applies for trading to resume in Hong Kong on Tuesday" 2977:"Evergrande has been ordered to demolish 39 buildings in Chinese resort" 2726:"Evergrande pays overdue interest but faces deadline on US$ 366 million" 2301:"Evergrande share trading halt pushes HKEX suspensions to record $ 61bn" 4049:"China's Country Garden woes raise fears of REIT defaults - J.P.Morgan" 2501:"Evergrande shareholder to delist in Hong Kong as contagion hits stock" 1718:"BlackRock and HSBC funds boosted Evergrande holdings as crisis loomed" 947:

36.5 billion) compared to its total tangible assets. According to

744: 686:, the first time it has been negative since the start of the pandemic. 394: 301:, energy, and many other sectors. These leveraged investments included 3799:"Evergrande chairman investigated over offshore asset transfers - WSJ" 1839:"Two more suppliers say payments are overdue from indebted Evergrande" 6750: 6642: 3891:"Hong Kong adjourns Evergrande's liquidation hearing till January 29" 1931:"Heavily indebted Chinese developer Evergrande warns of default risk" 541: 414: 306: 279: 3445:"China property crisis deepens amid Country Garden, Sino-Ocean woes" 2135:"Evergrande bondholders left in the dark as crucial deadline passes" 668:

In the week of 11 October 2021, Modern Land attempted to extend the

469:

specialist, owned more than $ 400 million at the end of June, while

4586: 4315:"3333 Stock Price | China Evergrande Group Stock Quote (Hong Kong)" 3707:"3333 Stock Price | China Evergrande Group Stock Quote (Hong Kong)" 3410:"China completes landmark national real estate registration system" 2601:"China new home prices hit by first month-on-month fall since 2015" 1303: 1108:"Evergrande used retail financial investments to plug funding gaps" 385:

In 2021, other central and local government regulations, including

4467:"PwC Expects Six-Month Ban in China for Evergrande Audit, FT Says" 3308:"Evergrande Winding-Up Case Put Off as Restructuring Plan Awaited" 3157:"3333 Stock Price, China Evergrande Group Stock Quote (Hong Kong)" 2813:"Evergrande debt deadline passes with no sign of payment -sources" 1715:

Hale, Thomas; Kinder, Tabby; Morris, Stephen (21 September 2021).

1253:

Hale, Thomas; Lockett, Hudson; Xueqiao, Wang (30 September 2020).

1024: 365: 273: 238: 125: 76: 31: 4252:"Chinese Trust Company Clients Say Wealth Product Payout Delayed" 2748:"Evergrande to be removed from Hang Seng China Enterprises Index" 2468:"China property sector woes deepen as midsize developer defaults" 2269:"Evergrande: Company set to update market on 'major transaction'" 1683:"Chinese developer Evergrande files for US bankruptcy protection" 3372:"Gold bars used to lure Chinese homebuyers amid market slowdown" 2532:"Chinese Developer Sinic Warns of Default as Hidden Risks Mount" 2370:"Evergrande shares tumble after sale of services unit collapses" 2337:"Evergrande's plan to sell property services division collapses" 932: 661:

in order to avoid contagion from a possible Evergrande default.

479: 6078: 4590: 2568:"Chinese developer Sinic defaults as Evergrande deadline looms" 2238:"Evergrande sells $ 1.5bn bank stake to state-owned enterprise" 1484:"Evergrande seeks to offload assets as investor pressure grows" 1380:

High Wire: How China Regulates Big Tech and Governs Its Economy

820:

system, which would enable the property tax to be implemented.

791:

money had been pledged as security for third-party guarantees.

3548:"'It's breaking down': Can China contain its economic crisis?" 2904:"Evergrande chairman Hui Ka-yan forced to sell pledged shares" 2783:"Trading in shares of Chinese developer Kaisa suspended -HKEX" 1648:"Half of China's top developers crossed Beijing's 'red lines'" 985: 470: 111: 6074: 2685:

Zhai, Keith; Yu, Elaine; and Bao, Anniek (10 November 2021).

2598:

Hale, Thomas; Langley, William; Lin, Andy (20 October 2021).

2435:"Chinese developer Sunac seeks to avoid Evergrande contagion" 1451:"Evergrande highlights risks in China's offshore bond market" 1105:

Yu, Sun; McMorrow, Ryan; Ju, Sherry Fei (21 September 2021).

3579:"How Evergrande's downfall signaled China's property crisis" 1256:"Evergrande: the property group that has the market on edge" 1962:"Factbox: China Evergrande's upcoming bond coupon payments" 1645:

Lin, Andy; Hale, Thomas; Lockett, Hudson (8 October 2021).

1577:"China's property slowdown sends chill through the economy" 2687:"China's Plan to Manage Evergrande: Take It Apart, Slowly" 2064:"China's Xi faces resistance to property-tax plan - WSJ" 6843:

General Secretary Xi Jinping's Kindness We Never Forget

1350:

The New China Playbook: Beyond Socialism and Capitalism

1286:

Liu, Adam Y.; Oi, Jean C.; Zhang, Yi (1 January 2022).

828:

would add pressure to the real estate sector in China.

714:

On 19 November 2021, it was announced that Hong Kong's

3859:"知情人士：许家印二儿子及多名高管也被带走调查！许家印或已"技术性离婚"，恒大仍严重资不抵债，将何去何从？" 3577:

Tham, Engen; Zhu, Julie; Jim, Clare (31 August 2023).

95:

at the beginning of December 2021. The ratings agency

4935:

Post-Napoleonic Irish grain price and land use shocks

6700:

General Secretary Xi Jinping important speech series

1869:"S&P downgrades China Evergrande again to 'CCC'" 1605: 1603: 1003:

Ever Credit, a wholly owned unit of Hong Kong-based

99:

declared the company to be in "restricted default".

6790: 6737: 6691: 6633: 6539: 6491: 6482: 6462: 6382: 6323: 6316: 6141: 5769: 5619: 5319: 5237: 5208: 5155: 5030: 4966: 4864: 4791: 4769: 6932:Economic history of the People's Republic of China 3068: 2599: 2566: 2499: 2498:Hale, Thomas; Riordan, Primrose (7 October 2021). 2466: 2433: 2401: 2368: 2335: 2299: 2298:Lockett, Hudson; Kinder, Tabby (19 October 2021). 2236: 2169: 2133: 1992: 1929: 1716: 1646: 1575: 1482: 1449: 1416: 1288:"China's Local Government Debt: The Grand Bargain" 1254: 1106: 4533:"The property firm that could break China's back" 2872:Jim, Clare; Strohecker, Karin (9 December 2021). 2367:Lockett, Hudson; Hale, Thomas (21 October 2021). 2235:Hale, Thomas; White, Edward (29 September 2021). 36:Residential buildings developed by Evergrande in 6551:2013 Russia, Tanzania, South Africa, Congo visit 6444:2020-2021 Xi Jinping Administration reform spree 6434:100th Anniversary of the Chinese Communist Party 6118:General Secretary of the Chinese Communist Party 2465:Lockett, Hudson; Hale, Thomas (5 October 2021). 840:Evergrande bankruptcy and arrest of its chairman 2093:Farrer, Martin; Ni, Vincent (4 November 2021). 938:As of 2023 Zhongrong International Trust Co, a 696:In addition, the Chinese shadow banks, such as 515:downgraded Evergrande further from CCC+ to CC. 495:On 22 June 2021, Fitch downgraded Evergrande's 409:violated all three regulations; Evergrande and 138:hospital jointly established by Evergrande and 6470:2022 2nd reelection as Party general secretary 6090: 6063:List of stock market crashes and bear markets 4602: 1481:Hale, Thomas; White, Edward (6 August 2021). 1138:Zhang, Albee; Woo, Ryan (24 September 2023). 1071:List of stock market crashes and bear markets 772:who advised Evergrande creditors on possible 8: 352:they falsely believed existed to supplement 102:At the beginning of the 2020s, thousands of 6132:Chairman of the Central Military Commission 3477:Jim, Clare; Wang, Shuyan (14 August 2023). 2724:Bray, Chad; Liu, Pearl (11 November 2021). 1574:Hale, Thomas; Yu, Sun (21 September 2021). 160:. Due to the financial benefits of selling 6488: 6390:2017 reelection as Party general secretary 6320: 6097: 6083: 6075: 4609: 4595: 4587: 4043: 4041: 1676: 1674: 1415:Hale, Thomas; Yu, Sun (10 November 2020). 980:According to a report by US media company 278:Ocean Flower Island on the north shore of 6531:China and the Russian invasion of Ukraine 6417:2019 China 70th National Day grand parade 5884:2015–2016 Chinese stock market turbulence 3867:(in Chinese (China)). 28 September 2023. 3775:(in Chinese (China)). 28 September 2023. 3038:"China Evergrande shares to halt trading" 776:proceedings with respect to Evergrande's 540:On 22 September 2021, the governments in 6331:2012 election as Party general secretary 1373: 1371: 1369: 1160:3 billion people ... might be a bit much 811:Background on Chinese real estate market 482:having a peak exposure of $ 31 million. 269: 179:had outpaced the 30% growth rate of the 18:2020–2023 Chinese property sector crisis 6830:Open Letter asking Xi Jinping to Resign 6269:Party media takes the party's last name 4527: 4525: 4523: 4521: 4490: 4488: 4431: 4429: 4372: 4370: 3923:Jim, Clare; Yu, Xie (4 December 2023). 2163: 2161: 1082: 6586:CPC and World Political Parties Summit 5789:Venezuelan banking crisis of 2009–2010 5559:South American economic crisis of 2002 5456:Black Wednesday (1992 Sterling crisis) 4279: 4277: 4185: 4183: 4152: 4150: 4148: 4146: 3918: 3916: 3779:from the original on 28 September 2023 3541: 3539: 3472: 3470: 3365: 3363: 2970: 2968: 2736:from the original on 11 November 2021. 2667: 2657: 2446:from the original on 29 September 2021 2249:from the original on 29 September 2021 2146:from the original on 24 September 2021 2005:from the original on 27 September 2021 1942:from the original on 22 September 2021 1909:from the original on 17 September 2021 1879:from the original on 21 September 2021 1849:from the original on 21 September 2021 1819:from the original on 21 September 2021 1789:from the original on 21 September 2021 1759:from the original on 21 September 2021 1729:from the original on 22 September 2021 1555:from the original on 22 September 2021 1525:from the original on 22 September 2021 1495:from the original on 21 September 2021 1429:from the original on 21 September 2021 1119:from the original on 21 September 2021 1046:Chinese economic crises (2020–present) 691:National Bureau of Statistics of China 5840:2013 Chinese banking liquidity crisis 5796:2010–2014 Portuguese financial crisis 5272:Secondary banking crisis of 1973–1975 4388:from the original on 13 February 2024 4295:from the original on 23 November 2023 4131:from the original on 2 September 2023 3508: 3506: 3504: 3439: 3437: 3435: 3107:from the original on 21 February 2022 2953:from the original on 18 December 2021 2914:from the original on 21 December 2021 2777: 2775: 2773: 2758:from the original on 20 November 2021 2561: 2559: 2557: 2329: 2327: 2230: 2228: 1710: 1708: 1659:from the original on 11 December 2022 1640: 1638: 1170: 1168: 585: 532:filed for US bankruptcy protection. 325:Evergrande wealth management products 270:Evergrande's diversification strategy 91:and finally defaulted on an offshore 7: 6621:2024 Kazakhstan and Tajikistan visit 6591:2022 Kazakhstan and Uzbekistan visit 6174:Xi Jinping–Li Keqiang Administration 5870:Russian financial crisis (2014–2016) 5723:2008–2011 Icelandic financial crisis 5716:2008–2009 Ukrainian financial crisis 5681:2000s U.S. housing market correction 5521:1998–2002 Argentine great depression 4355:from the original on 29 January 2024 4168:from the original on 10 October 2023 3935:from the original on 7 December 2023 3901:from the original on 7 December 2023 3288:from the original on 16 October 2022 3007:"US-China Trade War Recap - 中美貿易戰回顧" 2884:from the original on 9 December 2021 2853:from the original on 9 December 2021 2823:from the original on 7 December 2021 2793:from the original on 8 December 2021 2612:from the original on 20 October 2021 2579:from the original on 19 October 2021 2542:from the original on 13 October 2021 2512:from the original on 11 October 2021 2414:from the original on 10 October 2021 2381:from the original on 21 October 2021 2348:from the original on 20 October 2021 2312:from the original on 20 October 2021 2213:from the original on 22 October 2021 2182:from the original on 12 October 2021 1972:from the original on 11 October 2021 1588:from the original on 16 January 2022 1248: 1246: 1244: 1242: 1240: 1195:from the original on 29 January 2024 1150:from the original on 5 December 2023 1100: 1098: 1096: 1094: 1092: 1090: 1088: 1086: 6728:Quotations from Chairman Xi Jinping 6027:2023–2024 Egyptian financial crisis 5862:Puerto Rican government-debt crisis 5855:2014–2016 Brazilian economic crisis 5228:1963–1965 Indonesian hyperinflation 5131:Shanghai rubber stock market crisis 4820:Dutch Republic stock market crashes 4262:from the original on 13 August 2023 4232:from the original on 17 August 2023 4201:from the original on 24 August 2023 4059:from the original on 15 August 2023 4026:from the original on 30 August 2023 3996:from the original on 15 August 2023 3965:from the original on 5 October 2023 3871:from the original on 2 October 2023 3839:from the original on 3 October 2023 3809:from the original on 2 October 2023 3747:from the original on 3 October 2023 3687:from the original on 28 August 2023 3657:from the original on 18 August 2023 3589:from the original on 31 August 2023 3558:from the original on 27 August 2023 3524:from the original on 11 August 2023 3489:from the original on 17 August 2023 3455:from the original on 14 August 2023 3420:from the original on 24 August 2023 3390:from the original on 24 August 2023 3318:from the original on 4 October 2022 3081:from the original on 5 January 2022 3048:from the original on 3 January 2022 2987:from the original on 4 January 2022 2479:from the original on 5 October 2021 2113:from the original on 25 August 2023 2074:from the original on 25 August 2023 1693:from the original on 18 August 2023 1615:The Political Thought of Xi Jinping 1326:from the original on 9 January 2022 1175:Davidson, Helen (29 January 2024). 1041:Chinese property bubble (2005–2011) 639:had left a local project unable to 158:local government financing vehicles 79:, Sinic Holdings, and Modern Land. 6616:2024 France, Serbia, Hungary visit 5833:2012–2013 Cypriot financial crisis 5737:2008–2014 Spanish financial crisis 5709:2008–2009 Russian financial crisis 5702:2008–2009 Belgian financial crisis 5397:1988–1992 Norwegian banking crisis 4892:British credit crisis of 1772–1773 4506:from the original on 29 March 2024 4447:from the original on 19 March 2024 4325:from the original on 15 March 2022 3717:from the original on 15 March 2022 3257:from the original on 30 March 2022 3227:from the original on 22 March 2022 3197:from the original on 17 March 2022 3167:from the original on 15 March 2022 3137:from the original on 18 March 2022 3017:from the original on 12 April 2022 2044:from the original on 8 August 2022 1392:10.1093/oso/9780197682258.001.0001 1225:from the original on 3 August 2023 586:Evergrande's attempted asset sales 348:, investors would invest money in 25: 6259:Great changes unseen in a century 6020:2023 United States banking crisis 5826:2011 Bangladesh share market scam 5514:1998–1999 Ecuador economic crisis 5478:Venezuelan banking crisis of 1994 5404:Japanese asset price bubble crash 5345:Souk Al-Manakh stock market crash 5095:Australian banking crisis of 1893 4899:Dutch Republic financial collapse 3619:from the original on 18 July 2023 3546:Seccombe, Mike (26 August 2023). 2705:from the original on 16 June 2022 2024:Wei, Lingling (19 October 2021). 1448:Sender, Henny (13 October 2020). 1267:from the original on 23 June 2021 927:, one of China's largest private 716:Hang Seng China Enterprises Index 321:, China's richest football club. 166:2007–2008 global financial crisis 6865: 6864: 6307: 6299:Whole-process people's democracy 6209:Clear waters and green mountains 4877:Amsterdam banking crisis of 1763 2334:Hale, Thomas (20 October 2021). 2275:. 4 October 2021. Archived from 2201:Tan, Huileng (21 October 2021). 2168:Hale, Thomas (12 October 2021). 1462:from the original on 24 May 2021 55:. Evergrande, and other Chinese 6395:Persecution of Uyghurs in China 6294:Two Establishes and Two Upholds 6279:Three Stricts and Three Honests 5602:2007 Chinese stock bubble crash 4928:Danish state bankruptcy of 1813 4092:from the original on 2 May 2024 3348:from the original on 2 May 2024 2933:Yu, Elaine (17 December 2021). 2400:Hale, Thomas (8 October 2021). 1928:Hale, Thomas (31 August 2021). 486:Impending default of Evergrande 243:Housing development in Shenzhen 216:and it became the basis of the 51:sparked by the 2021 default of 5983:Chinese property sector crisis 5891:2015–2016 stock market selloff 5819:August 2011 stock markets fall 5730:2008–2011 Irish banking crisis 5427:1990s Swedish financial crisis 5176:Weimar Republic hyperinflation 453:Western exposure to Evergrande 413:violated two regulations; and 45:Chinese property sector crisis 1: 6810:Censorship of Winnie-the-Pooh 6596:2022 China-Arab States Summit 6516:Global Development Initiative 6407:China–United States trade war 6364:2015 China Victory Day Parade 6056:List of sovereign debt crises 5998:2022 Russian financial crisis 5695:2008 Latvian financial crisis 5688:U.S. bear market of 2007–2009 5566:Stock market downturn of 2002 5507:1998 Russian financial crisis 5360:1983 Israel bank stock crisis 3370:Hawkins, Amy (12 June 2023). 3036:Jim, Clare (3 January 2022). 1991:Yu, Sun (26 September 2021). 1215:"4. China's stimulus package" 1066:Stock market crashes in India 646:On 5 October 2021, developer 491:Downgrading of credit ratings 220:rule. The rule regulated the 130:American Ambassador to China 116:National Bureau of Statistics 6439:2020 Inner Mongolia protests 5758:Greek government-debt crisis 5595:2004 Argentine energy crisis 5552:2001 Turkish economic crisis 5441:1990s Armenian energy crisis 5434:1990s Finnish banking crisis 5295:1976 British currency crisis 5265:1973–1974 stock market crash 4078:Kuo, Lily (31 August 2023). 2975:He, Laura (4 January 2022). 2789:. Reuters. 8 December 2021. 1378:Zhang, Angela Huyue (2024). 818:real estate registration tax 726:defaults that could lead to 618:Off-shore bondholders hired 577:Missed payments in September 536:Chinese government responses 187:"Three red lines" rule, 2020 140:Brigham and Women's Hospital 6581:2019 Italy and France visit 6571:2017 Vietnam and Laos visit 6511:Community of Common Destiny 6219:Chinese-style modernization 5914:2017 Sri Lankan fuel crisis 5580:2003 Myanmar banking crisis 5573:2002 Uruguay banking crisis 5493:1997 Asian financial crisis 5420:1991 Indian economic crisis 5412:Rhode Island banking crisis 5382:Cameroonian economic crisis 5168:Early Soviet hyperinflation 4781:Crisis of the Third Century 3984:He, Laura (9 August 2023). 3772:Shanghai Securities Journal 3276:He, Laura (1 August 2022). 1056:1991 Indian economic crisis 887:By the end of August 2023, 405:regulations at least once. 6958: 6521:Global Security Initiative 6412:2019–20 Hong Kong protests 6359:Toilet Revolution in China 5945:Sri Lankan economic crisis 5803:Energy crisis in Venezuela 5782:2009 Dubai debt standstill 5632:2007–2008 financial crisis 5287:Latin American debt crisis 5050:Paris Bourse crash of 1882 3767:"中国恒大：许家印因涉嫌违法犯罪被依法采取强制措施" 3067:Yu, Sun (5 January 2022). 3011:THE KEITH & EVEN GROUP 546:Nanshan District, Shenzhen 473:owned over $ 300 million. 335:wealth management products 190: 6917:2020s in economic history 6859: 6714:The Hopes of President Xi 6606:China-Central Asia Summit 6566:2015 United Kingdom visit 6400:Xinjiang internment camps 6349:World Internet Conference 6305: 6274:Holistic security concept 6112: 6036: 6013:2022 stock market decline 6005:Pakistani economic crisis 5991:2021–2023 inflation surge 5937:Lebanese liquidity crisis 5906:Venezuelan hyperinflation 5898:Brexit stock market crash 5847:Venezuela economic crisis 5609:Zimbabwean hyperinflation 5192:Wall Street Crash of 1929 5032:2nd Industrial Revolution 4866:1st Industrial Revolution 4624: 1613:; Cheung, Olivia (2024). 925:Zhongzhi Enterprise Group 858:Communist Party secretary 344:Referred to as a type of 6561:2015 United States visit 6499:Belt and Road Initiative 6336:Anti-corruption campaign 5674:Subprime mortgage crisis 5337:Brazilian hyperinflation 5309:Brazilian hyperinflation 5146:Financial crisis of 1914 4854:Mississippi bubble crash 4500:South China Morning Post 4289:South China Morning Post 4195:South China Morning Post 4162:South China Morning Post 4111:Staff (31 August 2023). 4020:South China Morning Post 3895:South China Morning Post 3833:South China Morning Post 3741:South China Morning Post 3681:South China Morning Post 3613:South China Morning Post 3518:South China Morning Post 3449:South China Morning Post 3251:South China Morning Post 3221:South China Morning Post 2908:South China Morning Post 2730:South China Morning Post 1749:"China Evergrande Group" 1549:South China Morning Post 949:South China Morning Post 923:Similar issues arose at 912:South China Morning Post 689:On 20 October 2021, the 655:Chinese Estates Holdings 604:Hong Kong Stock Exchange 393:in big cities, and land 262:. It was thought that a 6707:The Governance of China 6049:List of economic crises 5967:2020 stock market crash 5960:Financial market impact 5929:Turkish economic crisis 5544:9/11 stock market crash 5500:October 1997 mini-crash 5471:1994 bond market crisis 5463:Yugoslav hyperinflation 5374:Savings and loan crisis 4975:European potato failure 3864:National Business Daily 2939:The Wall Street Journal 2691:The Wall Street Journal 1619:Oxford University Press 1384:Oxford University Press 940:shadow banking in China 863:The Wall Street Journal 637:control property prices 558:The Wall Street Journal 199:Chinese Communist Party 173:initial public offering 153:Chinese property bubble 61:new Chinese regulations 6526:Wolf warrior diplomacy 6244:Eight-point Regulation 6151:China under Xi Jinping 6042:List of banking crises 5811:Syrian economic crisis 5744:Blue Monday Crash 2009 5353:Chilean crisis of 1982 5184:Shōwa financial crisis 4990:Highland Potato Famine 4846:South Sea bubble crash 4637:Commodity price shocks 919:Zhongzhi and Zhongrong 290: 256:S&P Global Ratings 254:cited the director of 244: 143: 40: 38:Yuanyang County, Henan 6284:Historical resolution 6264:New productive forces 6179:Li Keqiang Government 5367:Black Saturday (1983) 5221:Kennedy Slide of 1962 4793:Commercial revolution 3344:. 23 September 2022. 3312:news.bloomberglaw.com 2442:. 28 September 2021. 1551:. 17 September 2021. 854:chairman of the board 766:financial instruments 657:announced they would 277: 242: 129: 35: 6937:Real estate in China 6805:Accelerator-in-Chief 6454:2022 Hong Kong visit 6449:2022 Winter Olympics 6229:Document Number Nine 6168:(2023–present) 5921:Ghana banking crisis 5751:European debt crisis 5536:Dot-com bubble crash 5448:Cuban Special Period 4907:Copper Panic of 1789 4812:The Great Debasement 4804:Great Bullion Famine 4321:. 13 February 2024. 4291:. 23 November 2023. 3131:FinanzNachrichten.de 2910:. 10 December 2021. 2754:. 20 November 2021. 1352:. New York: Viking. 624:Moelis & Company 620:Kirkland & Ellis 598:reported that rival 346:supply chain finance 63:on these companies' 6870:Category:Xi Jinping 6815:Cult of personality 6556:2015 Pakistan visit 6249:Four Comprehensives 6166:Li Qiang Government 5877:2015 Nepal blockade 5587:2000s energy crisis 5485:Mexican peso crisis 5390:Black Monday (1987) 5250:1970s energy crisis 5210:Post–WWII expansion 4884:Bengal bubble crash 4679:Financial contagion 4164:. 10 October 2023. 4085:The Washington Post 3897:. 4 December 2023. 2849:. 9 December 2021. 2819:. 7 December 2021. 2575:. 19 October 2021. 2538:. 12 October 2021. 2070:. 19 October 2021. 2030:Wall Street Journal 1968:. 11 October 2021. 1521:. 3 December 2019. 1051:Financial contagion 897:The Washington Post 830:Bloomberg Economics 677:financial contagion 653:On 7 October 2021, 614:Financial contagion 443:Sunshine City Group 303:Ocean Flower Island 57:property developers 6927:Financial scandals 6611:2023 Vietnam visit 6192:Xi Jinping Thought 6125:President of China 5139:Panic of 1910–1911 4983:Great Irish Famine 4921:Panic of 1796–1797 4760:Stock market crash 4414:. 17 February 2024 4258:. 13 August 2023. 4197:. 17 August 2023. 4055:. 14 August 2023. 4022:. 30 August 2023. 3835:. 2 October 2023. 3805:. 2 October 2023. 3743:. 3 October 2023. 3713:. 28 August 2023. 3683:. 28 August 2023. 3645:. 18 August 2023. 3552:The Saturday Paper 3520:. 10 August 2023. 3451:. 14 August 2023. 2670:has generic name ( 1061:Stock market crash 1005:Kingboard Holdings 728:debt restructuring 704:Evergrande default 679:was controllable. 600:Hopson Development 503:On 3 August 2021, 421:, Country Garden, 411:Greenland Holdings 291: 245: 144: 41: 6879: 6878: 6635:New Zhijiang Army 6629: 6628: 6601:2023 Russia visit 6478: 6477: 6422:COVID-19 pandemic 6343:(2012–2017) 6224:Common prosperity 6181:(2013–2023) 6072: 6071: 5953:COVID-19 pandemic 4838:Tulip mania crash 4829:Kipper und Wipper 4806:(c. 1400–c. 1500) 4502:. 27 March 2024. 4443:. 19 March 2024. 3416:. 25 April 2023. 3253:. 30 March 2022. 3223:. 22 March 2022. 3193:. 17 March 2022. 2279:on 4 October 2021 1875:. 6 August 2021. 1845:. 3 August 2021. 1359:978-1-9848-7828-1 1292:The China Journal 750:artificial island 738:Demolition notice 648:Fantasia Holdings 555:In October 2021, 550:custodial account 407:Guangzhou R&F 295:electric vehicles 214:19th CCP Congress 203:general secretary 171:Between its 2009 73:Fantasia Holdings 16:(Redirected from 6949: 6922:Financial crises 6868: 6867: 6836:Rhyzodiastes xii 6489: 6321: 6311: 6254:Four Confidences 6234:Dual circulation 6156:paramount leader 6134: 6127: 6120: 6099: 6092: 6085: 6076: 6065: 6058: 6051: 6044: 6029: 6022: 6015: 6008: 6000: 5993: 5986: 5976: 5969: 5962: 5955: 5948: 5940: 5932: 5924: 5916: 5909: 5901: 5893: 5886: 5879: 5872: 5865: 5857: 5850: 5842: 5835: 5828: 5821: 5814: 5806: 5798: 5791: 5784: 5760: 5753: 5746: 5739: 5732: 5725: 5718: 5711: 5704: 5697: 5690: 5683: 5676: 5669: 5662: 5655: 5648: 5641: 5634: 5612: 5604: 5597: 5590: 5582: 5575: 5568: 5561: 5554: 5547: 5539: 5531: 5523: 5516: 5509: 5502: 5495: 5488: 5480: 5473: 5466: 5458: 5451: 5443: 5436: 5429: 5422: 5415: 5407: 5399: 5392: 5385: 5377: 5369: 5362: 5355: 5348: 5340: 5326:Great Regression 5321:Great Moderation 5312: 5304: 5297: 5290: 5282: 5274: 5267: 5260: 5253: 5230: 5223: 5201: 5194: 5187: 5179: 5171: 5148: 5141: 5134: 5126: 5119: 5112: 5105: 5097: 5090: 5083: 5075: 5067: 5059: 5052: 5045: 5023: 5015: 5008: 5001: 4992: 4985: 4978: 4959: 4952: 4945: 4938: 4930: 4923: 4916: 4909: 4902: 4894: 4887: 4879: 4857: 4849: 4841: 4833: 4823: 4815: 4807: 4784: 4762: 4755: 4748: 4739: 4732: 4725: 4718: 4711: 4709:Liquidity crisis 4704: 4697: 4688: 4686:Social contagion 4681: 4674: 4667: 4660: 4653: 4646: 4639: 4632: 4618:Financial crises 4611: 4604: 4597: 4588: 4581: 4580: 4578: 4576: 4562: 4556: 4555: 4553: 4551: 4529: 4516: 4515: 4513: 4511: 4492: 4483: 4482: 4480: 4478: 4473:. 21 August 2024 4463: 4457: 4456: 4454: 4452: 4433: 4424: 4423: 4421: 4419: 4404: 4398: 4397: 4395: 4393: 4374: 4365: 4364: 4362: 4360: 4341: 4335: 4334: 4332: 4330: 4311: 4305: 4304: 4302: 4300: 4281: 4272: 4271: 4269: 4267: 4248: 4242: 4241: 4239: 4237: 4226:Business Insider 4217: 4211: 4210: 4208: 4206: 4187: 4178: 4177: 4175: 4173: 4154: 4141: 4140: 4138: 4136: 4108: 4102: 4101: 4099: 4097: 4075: 4069: 4068: 4066: 4064: 4045: 4036: 4035: 4033: 4031: 4012: 4006: 4005: 4003: 4001: 3981: 3975: 3974: 3972: 3970: 3951: 3945: 3944: 3942: 3940: 3920: 3911: 3910: 3908: 3906: 3887: 3881: 3880: 3878: 3876: 3855: 3849: 3848: 3846: 3844: 3825: 3819: 3818: 3816: 3814: 3795: 3789: 3788: 3786: 3784: 3763: 3757: 3756: 3754: 3752: 3733: 3727: 3726: 3724: 3722: 3703: 3697: 3696: 3694: 3692: 3673: 3667: 3666: 3664: 3662: 3635: 3629: 3628: 3626: 3624: 3615:. 17 July 2023. 3605: 3599: 3598: 3596: 3594: 3574: 3568: 3567: 3565: 3563: 3543: 3534: 3533: 3531: 3529: 3510: 3499: 3498: 3496: 3494: 3474: 3465: 3464: 3462: 3460: 3441: 3430: 3429: 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1406: 1405: 1375: 1364: 1363: 1342: 1336: 1335: 1333: 1331: 1283: 1277: 1276: 1274: 1272: 1258: 1250: 1235: 1234: 1232: 1230: 1211: 1205: 1204: 1202: 1200: 1172: 1163: 1162: 1157: 1155: 1135: 1129: 1128: 1126: 1124: 1110: 1102: 852:Hui Ka Yan, the 439:Shinsun Holdings 427:Jiangsu Zhongnan 387:mortgage lending 177:Evergrande Group 104:retail investors 89:ratings agencies 53:Evergrande Group 49:financial crisis 27:Financial crisis 21: 6957: 6956: 6952: 6951: 6950: 6948: 6947: 6946: 6882: 6881: 6880: 6875: 6855: 6786: 6733: 6687: 6625: 6576:Kim–Xi meetings 6542: 6535: 6474: 6458: 6378: 6312: 6303: 6289:Two Centenaries 6161:leadership core 6143: 6137: 6130: 6123: 6116: 6108: 6103: 6073: 6068: 6061: 6054: 6047: 6040: 6032: 6025: 6018: 6011: 6003: 5996: 5989: 5981: 5972: 5965: 5958: 5951: 5943: 5935: 5927: 5919: 5912: 5904: 5896: 5889: 5882: 5875: 5868: 5860: 5853: 5845: 5838: 5831: 5824: 5817: 5809: 5801: 5794: 5787: 5780: 5773: 5771:Information Age 5765: 5756: 5749: 5742: 5735: 5728: 5721: 5714: 5707: 5700: 5693: 5686: 5679: 5672: 5665: 5658: 5651: 5644: 5637: 5630: 5623: 5621:Great Recession 5615: 5607: 5600: 5593: 5585: 5578: 5571: 5564: 5557: 5550: 5542: 5534: 5526: 5519: 5512: 5505: 5498: 5491: 5483: 5476: 5469: 5461: 5454: 5446: 5439: 5432: 5425: 5418: 5410: 5402: 5395: 5388: 5380: 5372: 5365: 5358: 5351: 5343: 5335: 5328: 5324: 5315: 5307: 5302:1979 oil crisis 5300: 5293: 5285: 5277: 5270: 5263: 5258:1973 oil crisis 5256: 5248: 5241: 5239:Great Inflation 5233: 5226: 5219: 5212: 5204: 5197: 5190: 5182: 5174: 5166: 5159: 5157:Interwar period 5151: 5144: 5137: 5129: 5122: 5115: 5108: 5100: 5093: 5086: 5078: 5070: 5062: 5055: 5048: 5041: 5034: 5026: 5018: 5011: 5004: 4997: 4988: 4981: 4973: 4962: 4955: 4948: 4941: 4933: 4926: 4919: 4912: 4905: 4897: 4890: 4882: 4875: 4868: 4860: 4852: 4844: 4836: 4826: 4818: 4810: 4802: 4795: 4787: 4779: 4765: 4758: 4751: 4744: 4735: 4728: 4721: 4714: 4707: 4700: 4693: 4684: 4677: 4670: 4663: 4658:Currency crisis 4656: 4649: 4642: 4635: 4628: 4620: 4615: 4585: 4584: 4574: 4572: 4564: 4563: 4559: 4549: 4547: 4531: 4530: 4519: 4509: 4507: 4494: 4493: 4486: 4476: 4474: 4465: 4464: 4460: 4450: 4448: 4441:The Independent 4435: 4434: 4427: 4417: 4415: 4406: 4405: 4401: 4391: 4389: 4376: 4375: 4368: 4358: 4356: 4343: 4342: 4338: 4328: 4326: 4313: 4312: 4308: 4298: 4296: 4283: 4282: 4275: 4265: 4263: 4250: 4249: 4245: 4235: 4233: 4219: 4218: 4214: 4204: 4202: 4189: 4188: 4181: 4171: 4169: 4156: 4155: 4144: 4134: 4132: 4110: 4109: 4105: 4095: 4093: 4077: 4076: 4072: 4062: 4060: 4047: 4046: 4039: 4029: 4027: 4014: 4013: 4009: 3999: 3997: 3983: 3982: 3978: 3968: 3966: 3953: 3952: 3948: 3938: 3936: 3922: 3921: 3914: 3904: 3902: 3889: 3888: 3884: 3874: 3872: 3857: 3856: 3852: 3842: 3840: 3827: 3826: 3822: 3812: 3810: 3797: 3796: 3792: 3782: 3780: 3765: 3764: 3760: 3750: 3748: 3735: 3734: 3730: 3720: 3718: 3705: 3704: 3700: 3690: 3688: 3675: 3674: 3670: 3660: 3658: 3637: 3636: 3632: 3622: 3620: 3607: 3606: 3602: 3592: 3590: 3576: 3575: 3571: 3561: 3559: 3545: 3544: 3537: 3527: 3525: 3512: 3511: 3502: 3492: 3490: 3476: 3475: 3468: 3458: 3456: 3443: 3442: 3433: 3423: 3421: 3408: 3407: 3403: 3393: 3391: 3369: 3368: 3361: 3351: 3349: 3336: 3335: 3331: 3321: 3319: 3306: 3305: 3301: 3291: 3289: 3275: 3274: 3270: 3260: 3258: 3245: 3244: 3240: 3230: 3228: 3215: 3214: 3210: 3200: 3198: 3185: 3184: 3180: 3170: 3168: 3155: 3154: 3150: 3140: 3138: 3125: 3124: 3120: 3110: 3108: 3099: 3098: 3094: 3084: 3082: 3075:Financial Times 3066: 3065: 3061: 3051: 3049: 3035: 3034: 3030: 3020: 3018: 3005: 3004: 3000: 2990: 2988: 2974: 2973: 2966: 2956: 2954: 2932: 2931: 2927: 2917: 2915: 2902: 2901: 2897: 2887: 2885: 2871: 2870: 2866: 2856: 2854: 2841: 2840: 2836: 2826: 2824: 2811: 2810: 2806: 2796: 2794: 2781: 2780: 2771: 2761: 2759: 2746: 2745: 2741: 2723: 2722: 2718: 2708: 2706: 2684: 2683: 2679: 2666: 2656: 2649: 2647: 2630: 2629: 2625: 2615: 2613: 2606:Financial Times 2597: 2596: 2592: 2582: 2580: 2573:Financial Times 2565: 2564: 2555: 2545: 2543: 2530: 2529: 2525: 2515: 2513: 2506:Financial Times 2497: 2496: 2492: 2482: 2480: 2473:Financial Times 2464: 2463: 2459: 2449: 2447: 2440:Financial Times 2432: 2431: 2427: 2417: 2415: 2408:Financial Times 2399: 2398: 2394: 2384: 2382: 2375:Financial Times 2366: 2365: 2361: 2351: 2349: 2342:Financial Times 2333: 2332: 2325: 2315: 2313: 2306:Financial Times 2297: 2296: 2292: 2282: 2280: 2267: 2266: 2262: 2252: 2250: 2243:Financial Times 2234: 2233: 2226: 2216: 2214: 2207:Markets Insider 2200: 2199: 2195: 2185: 2183: 2176:Financial Times 2167: 2166: 2159: 2149: 2147: 2140:Financial Times 2131: 2130: 2126: 2116: 2114: 2092: 2091: 2087: 2077: 2075: 2062: 2061: 2057: 2047: 2045: 2023: 2022: 2018: 2008: 2006: 1999:Financial Times 1990: 1989: 1985: 1975: 1973: 1960: 1959: 1955: 1945: 1943: 1936:Financial Times 1927: 1926: 1922: 1912: 1910: 1897: 1896: 1892: 1882: 1880: 1867: 1866: 1862: 1852: 1850: 1837: 1836: 1832: 1822: 1820: 1807: 1806: 1802: 1792: 1790: 1777: 1776: 1772: 1762: 1760: 1747: 1746: 1742: 1732: 1730: 1723:Financial Times 1714: 1713: 1706: 1696: 1694: 1687:Financial Times 1680: 1679: 1672: 1662: 1660: 1653:Financial Times 1644: 1643: 1636: 1629: 1609: 1608: 1601: 1591: 1589: 1582:Financial Times 1573: 1572: 1568: 1558: 1556: 1543: 1542: 1538: 1528: 1526: 1519:The Japan Times 1513: 1512: 1508: 1498: 1496: 1489:Financial Times 1480: 1479: 1475: 1465: 1463: 1456:Financial Times 1447: 1446: 1442: 1432: 1430: 1423:Financial Times 1414: 1413: 1409: 1402: 1377: 1376: 1367: 1360: 1344: 1343: 1339: 1329: 1327: 1285: 1284: 1280: 1270: 1268: 1261:Financial Times 1252: 1251: 1238: 1228: 1226: 1219:treasury.gov.au 1213: 1212: 1208: 1198: 1196: 1174: 1173: 1166: 1153: 1151: 1137: 1136: 1132: 1122: 1120: 1113:Financial Times 1104: 1103: 1084: 1079: 1037: 1022: 1001: 970: 965: 957: 929:wealth managers 921: 877: 842: 813: 805: 758: 740: 706: 616: 588: 579: 538: 521: 493: 488: 467:emerging market 459:corporate bonds 455: 435:Seazen Holdings 383: 378: 354:working capital 350:shell companies 331:Financial Times 327: 315:South China Sea 288:South China Sea 272: 264:Lehman-Brothers 260:too big to fail 251:Financial Times 218:three red lines 195: 193:Three red lines 189: 181:Hang Seng Index 162:land use rights 149: 147:2000s and 2010s 124: 71:, Kaisa Group, 28: 23: 22: 15: 12: 11: 5: 6955: 6953: 6945: 6944: 6939: 6934: 6929: 6924: 6919: 6914: 6909: 6904: 6899: 6894: 6884: 6883: 6877: 6876: 6874: 6873: 6860: 6857: 6856: 6854: 6853: 6850:Xuexi Qiangguo 6846: 6839: 6832: 6827: 6817: 6812: 6807: 6802: 6794: 6792: 6788: 6787: 6785: 6784: 6778: 6772: 6766: 6760: 6754: 6748: 6741: 6739: 6735: 6734: 6732: 6731: 6724: 6721:Zhijiang Xinyu 6717: 6710: 6703: 6695: 6693: 6689: 6688: 6686: 6685: 6680: 6675: 6670: 6665: 6660: 6655: 6650: 6645: 6639: 6637: 6631: 6630: 6627: 6626: 6624: 6623: 6618: 6613: 6608: 6603: 6598: 6593: 6588: 6583: 6578: 6573: 6568: 6563: 6558: 6553: 6547: 6545: 6537: 6536: 6534: 6533: 6528: 6523: 6518: 6513: 6508: 6507: 6506: 6504:2017 BRI Forum 6495: 6493: 6486: 6480: 6479: 6476: 6475: 6473: 6472: 6466: 6464: 6460: 6459: 6457: 6456: 6451: 6446: 6441: 6436: 6431: 6430: 6429: 6419: 6414: 6409: 6404: 6403: 6402: 6392: 6386: 6384: 6380: 6379: 6377: 6376: 6371: 6366: 6361: 6356: 6351: 6346: 6345: 6344: 6333: 6327: 6325: 6318: 6314: 6313: 6306: 6304: 6302: 6301: 6296: 6291: 6286: 6281: 6276: 6271: 6266: 6261: 6256: 6251: 6246: 6241: 6236: 6231: 6226: 6221: 6216: 6211: 6206: 6205: 6204: 6199: 6189: 6188: 6187: 6182: 6171: 6170: 6169: 6163: 6158: 6147: 6145: 6139: 6138: 6136: 6135: 6128: 6121: 6113: 6110: 6109: 6104: 6102: 6101: 6094: 6087: 6079: 6070: 6069: 6067: 6066: 6059: 6052: 6045: 6037: 6034: 6033: 6031: 6030: 6023: 6016: 6009: 6007:(2022–present) 6001: 5994: 5987: 5985:(2020–present) 5979: 5978: 5977: 5970: 5963: 5949: 5947:(2019–present) 5941: 5939:(2019–present) 5933: 5931:(2018–present) 5925: 5917: 5910: 5902: 5894: 5887: 5880: 5873: 5866: 5858: 5851: 5849:(2013–present) 5843: 5836: 5829: 5822: 5815: 5813:(2011–present) 5807: 5805:(2010–present) 5799: 5792: 5785: 5777: 5775: 5774:(2009–present) 5767: 5766: 5764: 5763: 5762: 5761: 5754: 5747: 5740: 5733: 5726: 5719: 5712: 5705: 5698: 5691: 5684: 5677: 5670: 5663: 5656: 5649: 5642: 5639:September 2008 5627: 5625: 5617: 5616: 5614: 5613: 5611:(2007–present) 5605: 5598: 5591: 5583: 5576: 5569: 5562: 5555: 5548: 5540: 5532: 5524: 5517: 5510: 5503: 5496: 5489: 5481: 5474: 5467: 5459: 5452: 5444: 5437: 5430: 5423: 5416: 5408: 5400: 5393: 5386: 5378: 5370: 5363: 5356: 5349: 5341: 5332: 5330: 5317: 5316: 5314: 5313: 5305: 5298: 5291: 5283: 5275: 5268: 5261: 5254: 5245: 5243: 5235: 5234: 5232: 5231: 5224: 5216: 5214: 5206: 5205: 5203: 5202: 5195: 5188: 5180: 5172: 5163: 5161: 5153: 5152: 5150: 5149: 5142: 5135: 5127: 5120: 5113: 5106: 5098: 5091: 5084: 5076: 5068: 5060: 5053: 5046: 5038: 5036: 5028: 5027: 5025: 5024: 5016: 5009: 5002: 4995: 4994: 4993: 4986: 4970: 4968: 4964: 4963: 4961: 4960: 4953: 4946: 4939: 4931: 4924: 4917: 4910: 4903: 4901:(c. 1780–1795) 4895: 4888: 4880: 4872: 4870: 4862: 4861: 4859: 4858: 4850: 4842: 4834: 4824: 4822:(c. 1600–1760) 4816: 4808: 4799: 4797: 4789: 4788: 4786: 4785: 4776: 4774: 4767: 4766: 4764: 4763: 4756: 4749: 4742: 4741: 4740: 4733: 4726: 4719: 4705: 4702:Hyperinflation 4698: 4691: 4690: 4689: 4675: 4668: 4661: 4654: 4647: 4640: 4633: 4625: 4622: 4621: 4616: 4614: 4613: 4606: 4599: 4591: 4583: 4582: 4557: 4517: 4484: 4458: 4425: 4399: 4366: 4336: 4306: 4273: 4243: 4220:Tan, Huileng. 4212: 4179: 4142: 4103: 4070: 4037: 4007: 3976: 3946: 3912: 3882: 3850: 3820: 3790: 3758: 3728: 3698: 3668: 3630: 3600: 3569: 3535: 3500: 3466: 3431: 3401: 3359: 3329: 3299: 3268: 3238: 3208: 3178: 3148: 3118: 3092: 3059: 3028: 2998: 2964: 2925: 2895: 2864: 2834: 2804: 2769: 2739: 2716: 2677: 2623: 2590: 2553: 2523: 2490: 2457: 2425: 2392: 2359: 2323: 2290: 2260: 2224: 2193: 2157: 2124: 2085: 2055: 2016: 1983: 1953: 1920: 1890: 1860: 1830: 1800: 1770: 1740: 1704: 1670: 1634: 1627: 1599: 1566: 1536: 1506: 1473: 1440: 1407: 1400: 1365: 1358: 1337: 1304:10.1086/717256 1278: 1236: 1206: 1164: 1130: 1081: 1080: 1078: 1075: 1074: 1073: 1068: 1063: 1058: 1053: 1048: 1043: 1036: 1033: 1021: 1018: 1000: 999:Country Garden 997: 969: 966: 964: 961: 956: 953: 920: 917: 876: 875:Country Garden 873: 841: 838: 812: 809: 804: 801: 778:Cayman Islands 757: 754: 739: 736: 705: 702: 615: 612: 592:Shengjing Bank 587: 584: 578: 575: 537: 534: 520: 517: 492: 489: 487: 484: 454: 451: 382: 379: 377: 374: 362:Country Garden 326: 323: 319:Guangzhou F.C. 271: 268: 234:debt-to-assets 230:debt-to-equity 191:Main article: 188: 185: 148: 145: 132:Terry Branstad 123: 120: 69:Country Garden 26: 24: 14: 13: 10: 9: 6: 4: 3: 2: 6954: 6943: 6940: 6938: 6935: 6933: 6930: 6928: 6925: 6923: 6920: 6918: 6915: 6913: 6912:2024 in China 6910: 6908: 6907:2023 in China 6905: 6903: 6902:2022 in China 6900: 6898: 6897:2021 in China 6895: 6893: 6892:2020 in China 6890: 6889: 6887: 6872: 6871: 6862: 6861: 6858: 6852: 6851: 6847: 6845: 6844: 6840: 6838: 6837: 6833: 6831: 6828: 6825: 6821: 6820:Panama Papers 6818: 6816: 6813: 6811: 6808: 6806: 6803: 6801: 6800: 6799:Amazing China 6796: 6795: 6793: 6789: 6782: 6779: 6776: 6773: 6770: 6767: 6764: 6761: 6758: 6755: 6752: 6749: 6746: 6743: 6742: 6740: 6736: 6730: 6729: 6725: 6723: 6722: 6718: 6716: 6715: 6711: 6709: 6708: 6704: 6702: 6701: 6697: 6696: 6694: 6690: 6684: 6683:Zhong Shaojun 6681: 6679: 6678:Ding Xuexiang 6676: 6674: 6671: 6669: 6666: 6664: 6661: 6659: 6658:Lou Yangsheng 6656: 6654: 6653:Huang Kunming 6651: 6649: 6646: 6644: 6641: 6640: 6638: 6636: 6632: 6622: 6619: 6617: 6614: 6612: 6609: 6607: 6604: 6602: 6599: 6597: 6594: 6592: 6589: 6587: 6584: 6582: 6579: 6577: 6574: 6572: 6569: 6567: 6564: 6562: 6559: 6557: 6554: 6552: 6549: 6548: 6546: 6544: 6538: 6532: 6529: 6527: 6524: 6522: 6519: 6517: 6514: 6512: 6509: 6505: 6502: 6501: 6500: 6497: 6496: 6494: 6490: 6487: 6485: 6481: 6471: 6468: 6467: 6465: 6461: 6455: 6452: 6450: 6447: 6445: 6442: 6440: 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5398: 5394: 5391: 5387: 5383: 5379: 5375: 5371: 5368: 5364: 5361: 5357: 5354: 5350: 5346: 5342: 5338: 5334: 5333: 5331: 5327: 5322: 5318: 5310: 5306: 5303: 5299: 5296: 5292: 5288: 5284: 5280: 5276: 5273: 5269: 5266: 5262: 5259: 5255: 5251: 5247: 5246: 5244: 5240: 5236: 5229: 5225: 5222: 5218: 5217: 5215: 5211: 5207: 5200: 5199:Panic of 1930 5196: 5193: 5189: 5185: 5181: 5177: 5173: 5169: 5165: 5164: 5162: 5158: 5154: 5147: 5143: 5140: 5136: 5132: 5128: 5125: 5124:Panic of 1907 5121: 5118: 5117:Panic of 1901 5114: 5111: 5110:Panic of 1896 5107: 5103: 5099: 5096: 5092: 5089: 5088:Panic of 1893 5085: 5081: 5077: 5073: 5072:Baring crisis 5069: 5065: 5064:Arendal crash 5061: 5058: 5057:Panic of 1884 5054: 5051: 5047: 5044: 5043:Panic of 1873 5040: 5039: 5037: 5033: 5029: 5021: 5017: 5014: 5013:Panic of 1866 5010: 5007: 5006:Panic of 1857 5003: 5000: 4999:Panic of 1847 4996: 4991: 4987: 4984: 4980: 4979: 4976: 4972: 4971: 4969: 4965: 4958: 4957:Panic of 1837 4954: 4951: 4950:Panic of 1825 4947: 4944: 4943:Panic of 1819 4940: 4936: 4932: 4929: 4925: 4922: 4918: 4915: 4914:Panic of 1792 4911: 4908: 4904: 4900: 4896: 4893: 4889: 4885: 4881: 4878: 4874: 4873: 4871: 4867: 4863: 4855: 4851: 4847: 4843: 4839: 4835: 4831: 4830: 4825: 4821: 4817: 4813: 4809: 4805: 4801: 4800: 4798: 4794: 4790: 4782: 4778: 4777: 4775: 4773: 4768: 4761: 4757: 4754: 4753:Social crisis 4750: 4747: 4746:Minsky moment 4743: 4738: 4734: 4731: 4727: 4724: 4720: 4717: 4713: 4712: 4710: 4706: 4703: 4699: 4696: 4692: 4687: 4683: 4682: 4680: 4676: 4673: 4672:Energy crisis 4669: 4666: 4662: 4659: 4655: 4652: 4648: 4645: 4644:Credit crunch 4641: 4638: 4634: 4631: 4627: 4626: 4623: 4619: 4612: 4607: 4605: 4600: 4598: 4593: 4592: 4589: 4571: 4567: 4561: 4558: 4546: 4542: 4538: 4537:The Economist 4534: 4528: 4526: 4524: 4522: 4518: 4505: 4501: 4497: 4491: 4489: 4485: 4472: 4471:Bloomberg.com 4468: 4462: 4459: 4446: 4442: 4438: 4432: 4430: 4426: 4413: 4409: 4403: 4400: 4387: 4383: 4379: 4373: 4371: 4367: 4354: 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