ASIAN investors often say that Evergrande is too big to fail. The real estate group may be putting that notion to the test, and in the process could unleash a flood of deals back home.

On Tuesday, China's largest developer by assets announced a plan to inject some of those into a property company listed in Shenzhen. That way, Evergrande will be able to raise equity in China without having to go through the lengthy and increasingly difficult process of getting approval for a stock offering.

For Evergrande, any avenue to increase the equity on its balance sheet is good news. Credit rating agencies already say there's a high possibility the company won't be able to pay its debts.