China securities regulator is investigating China Evergrande Real Estat e for its accounting practices of recording pre-sold properties as revenue before 2020, changing accounting practices in 2021 and shifted $90 billion of revenue from previous years to liabilities on the balance sheet. Earlier in August 2023, China property giant China Evergrande Group with $300 billion debts and affiliate Tanji Holdings filed for Chapter 15 Bankruptcy Protection in New York on 17th August 2023 (United States, Chapter 15 is debt restructuring & does not involve bankruptcy petition). China Evergrande had defaulted in 2021 with offshore debt of $31.7 billion and is having ongoing restructuring talks in Hong Kong, Cayman Islands & BVI. More info below.