Evergrande Collapse

Evergrande began to falter after China began cracking down on the property sector in 2020.

From rural poverty to real-estate billions, the fortunes of Xu Jiayin mirrored China's runaway economic growth for much of the past two decades -- but now he is battling to save his Evergrande conglomerate from a quagmire of debt.

The boss of a Shanghai-based property developer, Zhang Yuanlin, lost more than a billion dollars Monday, as fears over the potential collapse of Chinese real estate giant Evergrande sent panic across Hong Kong trading floors.

Evergrande began to falter after China began cracking down on the property sector in 2020.

From rural poverty to real-estate billions, the fortunes of Xu Jiayin mirrored China's runaway economic growth for much of the past two decades -- but now he is battling to save his Evergrande conglomerate from a quagmire of debt.

The boss of a Shanghai-based property developer, Zhang Yuanlin, lost more than a billion dollars Monday, as fears over the potential collapse of Chinese real estate giant Evergrande sent panic across Hong Kong trading floors.