Hainan towers – level 1
The Evergrande Group is a Chinese company. It buys land. It builds houses. The company is very big. Sadly, it has big debts, too.
The company builds 38 buildings in Danzhou City, China. The houses are on the Ocean Flower Island. The island is not real. People build it. It is bigger than the Palm Islands in the United Arab Emirates.
Then, there is a problem. The Chinese media says that the buildings are not legal. Evergrande does not have building permits. The permits are official documents which say that someone can build a house.
The Chinese authorities say that Evergrande must demolish the buildings. The company must do it this week.
Difficult words: debt (money which someone must pay to someone else), legal (something which is not against the rules of a country), demolish (to pull down a building, bridge, or other structure).
You can watch the original video in the Level 3 section.
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