The regulatory crackdown that sparked arrests and a debt crisis in China’s second-biggest developer may do more harm than good to market, say analysts
The saga of China’s second-largest development firm has escalated from a financial crisis to a potentially criminal one with the investigation and detention of Evergrande chairman and founder, Hui Ka Yan.
The company resumed trading on Tuesday after it was suspended last week in the wake of media reports of Hui’s apprehension. But analysts say signs point to a potential liquidation of the company, which could have drastic ramifications for China’s economy too.
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