Struggling Evergrande Group should save itself from collapse rather than bet on a government bailout, said Hu Xijin, the editor-in-chief of the Chinese Communist Party mouthpiece media Global Times.
Over the years, China’s second-largest property developer Evergrande Group has been highly leveraged by driving its growth on debt. Its $300 billion in total liabilities now equal two percent of China’s 2020 GDP.
