Insurers' shares listed in the city, the broadest index of Asia-Pacific MSCI shares outside Japan, as well as US stock futures, also fell. The indebted Chinese developer owes mainly to retail investors for non-payment of its liabilities. Angry investors have already joined the protests against the company. Evergrande reported that two of its subsidiaries had not complied with third-party liability management products issued by third parties.

The crisis could affect China's banking system. The Bank of China would certainly enter the process and support an increase in liquidity in an effort to prevent a catastrophic failure scenario. However, the company announces a possible restructuring, which should prevent an absolute collapse. 

Performance of 5 years for China Evergrande Group (Source: Investing.com)