Case Study Chinese Property Market (Evergrande)

This episode features a conversation with Alex Huang, a legal scholar and Global Academic Fellow at the Faculty of Law, the University of Hong Kong, and the winner of the Gold Medal for the III Prize in International Insolvency Studies in 2025.

The Evergrande case illustrates the dynamics of the Chinese property market bubble, in which residential property came to be treated primarily as an investment asset, with many purchasers paying for homes before construction had even begun. This speculative confidence in ever rising housing prices collapsed in the mid2010s, exposing the vulnerabilities of highly leveraged developers such as Evergrande. While the parent company and its offshore subsidiaries have entered liquidation, the group’s property management arm remains outside insolvency proceedings. The podcast examines the effectiveness of early court orders made against Evergrande’s former chairperson and founder, and explains the absence of any consolidation of proceedings within mainland China, noting in particular why recognition of foreign insolvency processes would be inappropriate in this context. A central concern for both the Chinese government and local authorities is ensuring the completion of presold homes, and although the sector remains under pressure, there are signs of gradual stabilisation within the wider property market.-rising housing prices collapsed in the mid-2010s, exposing the vulnerabilities of highly leveraged developers such as Evergrande. While the parent company and its offshore subsidiaries have entered liquidation, the group’s property management arm remains outside insolvency proceedings. The podcast examines the effectiveness of early court orders made against Evergrande’s former chairperson and founder, and explains the absence of any consolidation of proceedings within mainland China, noting in particular why recognition of foreign insolvency processes would be inappropriate in this context. A central concern for both the Chinese government and local authorities is ensuring the completion of pre-sold homes, and although the sector remains under pressure, there are signs of gradual stabilisation within the wider property market.

The podcast is introduced by NextGen’s co-chair, Gemma Bellfield of Ogier, and moderated by Dr. Eugenio Vaccari of Royal Holloway, University of London. It was recorded in early February 2026, with information accurate at the time of recording.