Company

China Evergrande Group

Chinese property developer whose 2021 default features in the investigation's account of the pre-sale development model's collapse.

PIA Investigations Covering This Organisation

China Evergrande Group appears in 1 Project Insider Asia investigation, covering Billion Dollar Failures.

The Evidence Record

What the investigations document about China Evergrande Group's involvement, drawn from the published investigation records.

PIA-INV-014

China's Ghost Cities

Investigation focus China's Ghost Cities: How Rapid Urban Expansion Ran Ahead of Demand
Cost Programme cost unquantified; Ordos city debt alone reported at ~RMB 300bn (~US$47bn) by 2012
Country China
Industry Real Estate and Urban Development
Key dates 2026-08-03

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Governance Lessons

Lessons from the investigations covering China Evergrande Group, each attributed to its source investigation.

  1. Follow the Incentives, Not the Master Plan

    Every actor in China's new town boom —……

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    From China's Ghost Cities

  2. Speculative Demand Is Not Demand

    Chinese households bought empty flats……

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    From China's Ghost Cities

  3. Off-Balance-Sheet Debt Is Still Debt

    LGFVs existed precisely to keep……

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    From China's Ghost Cities

  4. Absence of Data Is a Decision

    China has never published an official……

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    From China's Ghost Cities

  5. Build-to-Order Beats Build-to-Forecast

    Districts that filled — usually those……

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    From China's Ghost Cities

  6. A Slow Recovery Does Not Cancel the Failure

    Kangbashi now houses over 100,000……

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    From China's Ghost Cities

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