HomeEconomicPwC resigns as auditor of Evergrande

PwC resigns as auditor of Evergrande

Reported by Cheng Leng, Han Le Hong Kong, Shanghai

Indebted Chinese property developer Evergrande said on Tuesday that international accounting firm PricewaterhouseCoopers (PwC) resigned as its auditor, citing disagreements over financial statements being investigated by Hong Kong regulators.

This development has added another variable to the fate of Evergrande. Evergrande has debts of US$300 billion and has repeatedly postponed the announcement of its restructuring plan after defaulting on its debt at the end of 2021. Evergrande’s default at the end of 2021 is part of a broader crisis in China’s real estate sector.

Evergrande said in a filing to the stock exchange that Puhua…

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