Chinese property developer Evergrande, with its astronomical debts and now a symbol of China's property crisis, has been fined €532 million for offences, the stock market regulator announced today. Since 2020, the woes of the group, formerly China's number-one real estate company, have fuelled mistrust in a sector that has long been highly lucrative but is now shunned, against a backdrop of economic slowdown and unfinished housing.
In China, fallen real estate giant Evergrande convicted of fraud
By Sébastien Ricci and Peter Catterall
This is a machine translation. Automated translations are intended solely as a convenience and are not legally binding.
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