Government Takes Control of Evergrande & Tries to Calm Markets | China Evergrande Housing Crisis

The government summoned China Evergrande’s billionaire chairman Hui Ka Yan for an emergency meeting, and control of his crisis-hit Chinese property developer company was handed over. Then late last night top regulators in Beijing published coordinated statements in an effort to claim nervous markets after Evergrande told investors that it may not be able to meet its financial obligations.China Update provides you guys with the most up to date political, economic, and geostrategic analysis on China - so that you are on top of the world's number 2 economy.