What are the key events in the evergrande full story?
The key events in Evergrande's story include its initial growth and success in the real - estate market. Then came the over - ambitious expansion plans into areas like electric vehicles. The change in government regulations regarding real - estate was crucial as it restricted their ability to sell properties easily. Also, the growing debt that became unmanageable over time, leading to concerns among stakeholders and a potential threat to the global financial system.
One key event was its aggressive expansion into multiple sectors. Another was the tightening of real - estate regulations which put pressure on its business model. And of course, the build - up of its huge debt.
In Evergrande's story, first of all, it had a period of rapid growth in the real - estate sector, building large numbers of properties across China. Subsequently, it decided to diversify widely, for example, into electric vehicles and theme parks. However, as the Chinese government introduced policies to control the real - estate market, such as limiting borrowing for developers, Evergrande's financial situation deteriorated. Their debt became a significant issue, and this led to problems with suppliers not getting paid, potential delays in housing delivery for home - buyers, and concerns among international investors who held Evergrande's bonds.
