China Evergrande Group

China Evergrande Group is a diversified Chinese conglomerate best known as one of the country’s largest real estate developers. Established in 1996 and headquartered in Shenzhen, Evergrande’s primary operations span residential, commercial, and mixed-use property development, with over 1,300 projects across more than 280 cities in China. The company expanded into related sectors such as property management, automotive manufacturing—particularly new energy vehicles—and significant cultural tourism assets like Ocean Flower Island. Evergrande’s aggressive growth was fueled by substantial debt, making it a symbol of China’s rapid property sector expansion. At its peak, Evergrande had assets exceeding two trillion yuan and ranked as the world’s most valuable real estate company in 2018. The group’s complex structure included interests in health care, insurance, and smart mobility solutions, reflecting its multi-industry approach. However, Evergrande’s financial distress since 2021—marked by defaults on over $300 billion in liabilities—triggered a far-reaching crisis in China’s property market, significantly impacting economic and consumer sentiment. In January 2024, a Hong Kong court ordered liquidation of the group, and its shares were delisted in August 2025.