1_MAIN_AP_99900210293 Evergrande head quarters in Shenzhen

After years of rapid growth, Evergrande's expansion plans are now increasingly challenged by rising financing costs, a slowing domestic economy and a lackluster property market. © AP

Chinese developer Evergrande tightens belt after a decade of audacity

Humbled property giant struggles to find new funding and growth engine

HONG KONG -- When Xia Haijun stood with a beaming Donald Trump for a photo op in 2008 after clinching a multimillion-dollar property deal, the chief executive of China Evergrande Group never imagined that 10 years later his company would appear on the now-U.S. president's blacklist.

Evergrande, China's third-largest property developer by sales, has been accused by the Trump administration of stealing American technology and intellectual property after it agreed to acquire a small electric-vehicle startup last year.

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