https://www.nzherald.co.nz/business/...ARTMKJ3WO4KPU/
paywalled
"Unless China's regulators seriously mismanage the situation, a systemic crisis in the country's financial sector is not on the cards," says He Wei, an analyst at Gavekal, a research company.
Indeed,
the main cause of Evergrande's crisis and the downturn in the broader property sector is Beijing itself. The "three red lines" that the Xi government announced last year stipulate that developers must keep debt levels within reasonable bounds."