China’s property market runs out of steam as millions of investors demand their money back

China’s property market runs out of steam as millions of investors demand their money back

Ratings agencies predict a default by Evergrande while banks and creditors are on the hook, prompting fears of a ‘Lehman moment’

China’s property market runs out of steam as millions demand their money back

A line of 60 uniformed security guards stretched across the entrance to ailing Chinese property giant Evergrande’s gleaming Shenzhen tower on Monday as dozens of angry investors demanded answers – and their money – from the company.