Evergrande Group is a large Chinese real estate company founded in 1996. It became one of the largest property developers in China, focusing on residential and commercial projects. The company expanded rapidly, building thousands of homes and other developments across the country. In 2021, Evergrande faced a significant financial crisis due to massive debt, leading to concerns about its ability to meet obligations. This situation raised alarms about potential impacts on the Chinese economy and the global real estate market, prompting government intervention and restructuring efforts to stabilize the company.