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    Evergrande: will it collapse and what would happen if it did?

    What is Evergrande? Evergrande Real Estate – or Heng Da Group in Chinese – owns more than 1,300 building projects in more than 280 cities across China.
    Sep 21, 2021 4 minutes

    What is Evergrande?

    Evergrande Real Estate – or Heng Da Group in Chinese – owns more than 1,300 building projects in more than 280 cities across China.

    Founded by the former Chinese steel executive Xu Jiayin in southern China in 1996, it is now China’s second-biggest property developer by sales. Its businesses range from property development to wealth management. It’s also a familiar name to Chinese football fans as it owns the country’s biggest team – Guangzhou FC.

    The booming business, which has tapped into many sectors of a growing Chinese economy, has also made Xu one of the richest members of China’s business elites: according to Forbes

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