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China property giant Evergrande files for US bankruptcy protection

The latest business and finance news from around the world, on the 大象传媒.

Filing for bankruptcy protection will allow the heavily-indebted Evergrande to protect its assets in the US as it works on a multi-billion dollar deal with creditors. The company defaulted on its huge debts in 2021, which sent shockwaves through global financial markets. The move comes as problems in China's property market add to concerns about the world's second largest economy.

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(Evergrande Group logo. Photo credit: Getty Images)

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Fri 18 Aug 2023 22:32GMT

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  • Fri 18 Aug 2023 21:32GMT
  • Fri 18 Aug 2023 22:32GMT