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China debt crunch

Shenzhen city fund records $770m loss on Evergrande investment

Investors holding onto 2017 stakes count costs of support to troubled developer

China Evergrande Group disclosed in early January that it had been ordered to demolish 39 apartment towers at the Ocean Flower Island project on Hainan Island.   © Reuters
KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- Investors who injected about $20 billion into China Evergrande Group's main operating unit five years ago are starting to count their losses amid the company's slide into default and restructuring.

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