For decades, the Chinese developer Evergrande Group was an embodiment of the success of the rapidly growing Chinese economy. Increasing disposable personal income fueled a growing passion for purchasing property which in turned propelled the rise of Evergrande, as well as its billionaire founder Xu Jiayin.But ever since the Chinese government tightened rules on property companies’ borrowings last year as demand for real estate appeared to weaken, developers like Evergrande have been under greater pressure to repay the piles of debt they took on to fund their expansion across sectors.Evergrande is a bellwether for the sector, given its gigantic footprint across the country of more than 1,000
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