Fears grow for China's Evergrande after interest deadline passes

China's Evergrande crisis continues to make investors nervous as the indebted property giant did not make any announcement as its deadline to make interest repayments passed on Thursday.

China Evergrande inched closer on Friday to the potential default that investors fear as an interest deadline expired without any announcement from the property giant whose mountain of debt has spooked world markets.

The company owes $305 billion, has run short of cash and investors are worried a collapse could pose systemic risks to China's financial system and reverberate around the world.