CNN BUSINESS | China’s Evergrande puts on a brave face. But will Beijing bail it out?

Hong Kong (CNN Business) – Evergrande’s chairman promised his employees Tuesday that they will “walk out of the darkness” caused by the embattled Chinese conglomerate’s historic debt crisis. 
 
But what happens next for the company is still anyone’s guess, and the lack of guidance from the company and authorities in Beijing about how the crisis will be resolved is creating uncertainty for investors worldwide amid fears that a collapse could slam China’s vast property sector and the global economy. 
 
Xu Jiayin, the chairman of Evergrande Group, acknowledged in a letter to employees that the cash-strapped real estate developer “has encountered unprecedented difficulties.” The letter was published in the Paper, a state-owned Chinese media outlet, and confirmed to be genuine by an Evergrande representative.  —read more—