Evergrande may have become too big to fail

Hong Kong

EVERGRANDE Real Estate Group Ltd, the Chinese developer that's been on a debt-fuelled buying spree in the past year, may be too big to fail, according to research firm CreditSights.

A default by Evergrande, China's largest developer by assets, could "wreak havoc among the banks and cause social unrest among its employees and customers," Singapore-based CreditSights said in an April 13 report.