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Property

Evergrande debt crisis shines light on China real estate bubble

As Xi pushes 'common prosperity', Beijing tries to avoid fueling an economic downturn

Chinese homebuyers look at housing models of a residential property project at a real estate in China in 2018. Condominium prices in the southern city of Shenzhen are now 57 times the average annual income, and 55 times that of income in Beijing.   © AP
IORI KAWATE, Nikkei staff writer | China

BEIJING -- The debt crisis at China Evergrande Group, the world's most indebted property developer, has cast new light on the health of China's real estate market.

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