- Evergrande, one of China’s biggest real-estate developers, is $300 billion in debt.
- That’s the biggest debt load of any company in the world right now.
- If Evergrande defaults, analysts fear its collapse will send shockwaves through the Chinese economy.
Evergrande, once the second-largest property developer in China by sales, is being liquidated by order of a Hong Kong court on Monday.
The decision marks a conclusion to a two-year crisis for the Shenzhen-based developer, which in September 2021 signaled that it could no longer repay $300 billion in loans to hundreds of banks and financial firms.
Analysts have long feared that the embattled property giant’s collapse would send shockwaves across China’s already stalling economy, and potentially even destabilize foreign firms. Experts at the time called it China’s “Lehman Brothers moment.”
To help you understand the scale of China’s former real estate darling, we’ve pulled together some statistics and comparisons that put it into perspective.