It's also on the brink of defaulting on its loans.
The developer owes money to hundreds of banks and financial firms, and if it fails to pay its loans, those companies will also feel the crunch.
Analysts are worried that if the company collapses, it could shockwaves across China's economy. Some experts are calling it China's "Lehman Brothers moment."
To help you understand the scale of China's real-estate giant, we've pulled together some statistics and comparisons that put it into perspective.