Until a few years ago, Evergrande was China's largest real estate developer, and its founder, Xu Jiayin, the richest man in the country.
Today, the conglomerate is above all the most indebted in the world, with a slate of nearly 250 billion euros (1,950 billion yuan).
The financial distress of the mastodon, relayed every day by dozens of press articles, poses a dilemma at the highest level of the State.
Should we save Private Evergrande from bankruptcy?
Founded in 1996 in Canton, this developer, better known under the name of Hengda in China, has taken advantage of galloping urbanization by deploying its cranes in nearly 280 cities to build mainly high-rise apartment buildings.
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Building on its success in real estate, Evergrande embarked on an all-out diversification five years ago: leisure parks, mineral water, internet provider, insurance company and electric cars.
The conglomerate has also offered itself one of the football clubs in Canton,
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