The developer averted a catastrophic default this week at the very last minute but its offshore creditors warn there will have to be a debt restructure soon

On Friday, Evergrande said it had "adequately" fulfilled exchange guidance for the resumption of trade of its Hong Kong-listed stock

Country Garden, facing $192 billion worth of debt, is saddled with nearly 1 million unfinished homes in 3,121 projects spread across all of China's provinces

With its regional governments facing unprecedented debt woes, economists say Beijing has realised it needs to urgently throw cash at the problem

Real estate giants like Country Garden and Sunac China saw their shares rise 18% and 17% while investors also piled into property firms’ bonds

The struggling real estate giant posted a combined loss of $81 billion for 2021 and 2022, deepening investor doubts about the viability of the restructuring deal

The embattled property developer's overdue results showed steep losses and liabilities prompting some to question the viability of its restructuring plan

But some analysts warned the move that sparked the share price rebound won’t be enough to turn around the country’s crippled property sector

Two subsidiaries holding 47 property projects will be transferred in a cash boost for the electric vehicle unit of the ailing real estate giant

The debt restructuring plan has not proven popular with Evergrande dollar bondholders, with one likening it to lending a bucket of rice and then being repaid back with two grains

The restructuring, worth $22.7 billion, is just part of Evergrande‘s total liabilities that amount to more than $300 billion

Bondholders have also been pushing Evergrande Chairman Hui Ka Yan to put in more of his own money to repay debt