Chinese property giant Evergrande Group says it is under “tremendous pressure” after investors stormed the company’s headquarters demanding their money back, stoking fears its potential collapse will have ripple effects through the world’s second-largest economy.
Australian investors are also watching closely the crisis surrounding the company, amid fears its collapse could burst China’s property bubble and sap already weakening demand for iron ore if the vast amounts of steel used in construction were no longer needed.
Loading...
Michael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com
