The Evergrande Crisis in China
| Case Code: FINC197 Case Length: 16 Pages Period: 2020- 2021 Pub Date: 2022 Teaching Note: Available |
Price: Rs.400 Organization: Evergrande Group Industry: Real Estate Countries: China Themes: Corporate Finance, Capital Structure |
Abstract Case Intro 1 Case Intro 2 Excerpts
Growth of Real Estate Sector in China
In 1981, the Chinese government began to promote real estate development. By the 1990s, companies like the Longfor Group , China Resources Land , and Country Garden had become dominant players. In 1994, market-oriented housing reforms were undertaken in China. According to these, the government allowed state sector employees to purchase full or partial property rights to their apartment units at subsidized prices. In 1997, this welfare housing system was abolished. In 1998, People’s Bank of China (PBC) introduced some procedures for home buyers for getting residential mortgages at subsidized interest rates. The procedures were adopted between 1998 and 2002..
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