Chinese property giant Evergrande warns again that it could default on its enormous debts

The embattled Chinese property giant has already warned in recent weeks of its cash crisis, listing $300 billion in total liabilities and saying that it could default if it’s unable to raise money quickly. Should that happen, the effects would be felt across China’s banking system and the wider economy. The group has already suspended work on some projects as it tries to conserve cash, a move that’s poised to hit China’s property sector.Markets in the region shook on Tuesday. The Shanghai Composite (SHCOMP) closed down 1.4%, while Hong Kong’s Hang Seng index (HSI) fell 1.2%.Evergrande disclosed on Tuesday that it had made “no material progress” in its search

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