INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out May 31, 7:20 AM EDT World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion NEWSLETTER My account Log Out US Edition World U.
S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion Listings & More Spotlight Glossary SMB Forum Glossary K-Wave CEO Spotlight Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States World Chinese Property Giant Evergrande Fined $576 Mn For 'Fraud' By Peter CATTERALL Published 05/31/24 AT 6:06 AM EDT Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Evergrande was once China's biggest real estate firm, a powerhouse in a sector that helped propel the country's rapid economic growth during recent decades AFP China's deeply indebted property giant Evergrande has been fined $576 million for fraudulent business practices, Beijing's top financial regulator said Friday. Evergrande was once China's biggest real estate firm, a powerhouse in a sector that helped propel the country's rapid economic growth during recent decades.
But its spiraling debt became emblematic of a prolonged crisis in China's real estate sector. Struggling to repay creditors for years, it defaulted in 2021. China's Securi.
