- REUTERS - SEP 14, 2021 - Tom Westbrook and Andrew Galbraith -
SINGAPORE/SHANGHAI, Sept 14 (Reuters) - China Evergrande is teetering between a messy meltdown with far-reaching impacts, a managed collapse or the less likely prospect of a bailout by Beijing for what was once the country's top-selling property developer.
Founded in Guangzhou in 1996, Evergrande has epitomised China's freewheeling era of borrowing and building, but with liabilities of nearly two trillion yuan ($305 billion) its possible collapse looms as one of China's largest for years.
Debt and land-buying curbs and hundreds of new rules have been imposed on Chinese developers over recent years as part of a push to cut financial risks and promote affordable housing.
Evergrande (3333.HK), which accelerated efforts to cut its debts in 2020 after regulators introduced caps, does not have any major offshore bond maturities until early next year but tardy payment of suppliers and interest on loans have brought to a head concerns that have long nagged at investors.
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