Asian Insider

Are China's conglomerates getting too big for comfort?

Their profligacy has become unacceptable in the 'New Era' under President Xi Jinping

The liabilities of China's embattled Evergrande Group, the world's most indebted property developer, have increased every year since it went public in Hong Kong in 2009.

Its liabilities stood at over 1.97 trillion yuan (S$414 billion) as at June 30, up from just 49.9 billion yuan 12 years ago.

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A version of this article appeared in the print edition of The Straits Times on October 21, 2021, with the headline 'Are China's conglomerates getting too big for comfort? '. Subscribe