Manya Rathore
Research expert covering India
Evergrande Group - statistics & facts
After reports surfaced that the Evergrande Group could not service its bond payments in the summer of 2021, global attention turned toward the Chinese property developer. Founded in the late 鈥90s in the Southern Chinese city of Guangzhou, Evergrande鈥檚 founder Xu Jiayin adopted an aggressive growth strategy that catapulted the company to the top of the national real estate industry. Besides building houses, the conglomerate also ventured into other industries which include electric vehicles, life insurance, and sports. However, during the expansion process, the Evergrande Group had amassed a significant amount of debt.
