China's housing crisis deepens as Evergrande shares slide - BBC News

China's housing crisis deepens as Evergrande shares slide - BBC News

#China
#BBCNews
Shares in the Chinese property firm Evergrande have fallen as problems in the country’s struggling housing market deepen – affecting the wider economy.

Its mainland unit Hengda Real Estate has defaulted on 4bn yuan (£449m; $547m) of debt, it revealed on Monday.

The BBC’s Analysis Editor Ros Atkins examines the background to the current crisis.