China

Evergrande’s million-dollar former economist says his counsel fell on deaf ears as he disowns developer’s debt-fuelled growth




Ren Zeping, China Evergrande Group’s ex-chief economist and the country’s highest paid strategist, has disowned the leveraged diversification and debt-fuelled acquisitions of his former employer, as the world’s most indebted developer faces another string of bond payments this week.The former head of the Evergrande Research Institute – with an annual salary of 15 million yuan (US$2.3 million) – said he had admonished the parent company’s top executives to focus on cutting debt instead of…



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