The property developer Evergrande has been granted an extension until late January to try to restructure its debts and avoid liquidation in one of the most high-profile cases in China’s long-running property crisis.
Evergrande was once China’s biggest property developer, but a default on offshore debt obligations in 2021 started a lurch from one crisis to another. It has reported debts of more than $300bn (£237bn), much of it to individuals whose properties were never built.
