China Evergrande Real Estate

Insights 07/16/22, 16:22

After a few months of relative tranquility, the real estate crisis in China is again gaining strength and revealing that the entire real estate system based on financial speculation and not on real needs is collapsing. It's putting China's productive system as a whole at risk.  Recently, a group of buyers ...

Economy 02/27/22, 15:51

Reuters reported China Evergrande Group sold four projects to two state-owned trust firms to resolve its shortage of funds. On Friday, Evergrande announced that two trust firms would buy its shares and "right to debt" in four projects with 2.13 billion yuan (337 million dollars). Everbright Trust bought a residential development in ...

Economy 02/17/22, 13:44

Channelnewsasia reported that a Chinese court ordered the freezing of assets worth 640.4 million yuan ($101 million) held by a China Evergrande Group subsidiary. State-owned Shanghai Construction, which sued Evergrande in December for outstanding construction costs in Chengdu, cited a Guangzhou Intermediate People's Court judgment that the assets to be frozen ...

Economy 02/09/22, 19:59

As Nikkei Asia reported, the electronics retailer Suning.com's shares plunged around 10% on Monday as China's domestic stock market reopened following a week-long Lunar New Year break but rebounded to close at 3.63 yuan (US$0.57), down about 3%. Since the beginning of 2021, the retailer's stock has already lost half ...

In-depth Reports 01/31/22, 21:13

The crisis of the Chinese real estate giant Evergrande implies something much more serious than the simple collapse of a real estate company. As the crisis deepens, it is becoming clear that what is really crumbling is an entire real estate system based on economic speculation and not on real ...

Insights 01/27/22, 17:56

According to Reuters, shares of China Evergrande Group tumbled on Thursday, Jan. 27, as investors in the debt-laden developer were skeptical of the company's thinly detailed plan to have a preliminary restructuring proposal in place in six months. Evergrande's shares dropped 9.6% to HK$ 1.60 (or US$ 0.205), the lowest in ...

China 12/18/21, 06:45

Chinese property developer Evergrande has had many of its land lots confiscated by the Haikou authorities, according to The Epoch Times.  The Haikou City Planning and Resources Department explained in a notice on Dec. 13 that it was due to expired real estate ownership certificates. Haikou is the capital city of the ...

China 12/10/21, 23:34

On Dec. 3, China Evergrande Group served notice on the Hong Kong Stock Exchange that it could not fulfill its guarantee obligation of up to $260 million, which may cause creditors to demand accelerated debt maturity. Evergrande currently has a total debt of about $300 billion, including $19 billion in outstanding ...

China 12/10/21, 23:24

On Dec.3, The Paper reported that the leading property developer “Fantasia Group” is experiencing liquidity difficulties. They have officially canceled the transaction in the North China region. This seems to be the last gasp for them. Recently, in his farewell letter on the Internet, Huo Yong, president of the North China ...

China 12/07/21, 03:45

Chinese billionaire Xu Jiayin, founder of Evergrande—China’s largest real estate developer, faces Evergrande’s bond defaults. Earlier, the media reported that the Chinese Communist Party asked Xu Jiayin to use his assets to ease Evergrande’s debt crisis. After selling much of his personal property in Hong Kong, Xu Jiayin continued to sell ...

China 12/06/21, 15:34

According to the EpochTimes commentator Li Muyang, on Dec. 3, China's Evergrande Group announced it had defaulted on a debt of up to $260 million. This announcement by Evergrande may result in Evergrande's bankruptcy. The impact of this incident will be huge. However, a spokesman for the China Banking and Insurance ...

China 12/06/21, 13:07

According to Reuters, in the context of growing economic difficulties whipped up by the property sector crisis, expectations the central bank will ease policies have surged in China, which were dismissed as 'simplistic' and misleading by a newspaper run by the regime.  On Friday Dec. 3, Chinese Premier Li Keqiang announced ...

Uncategorized 12/04/21, 07:02

China Evergrande founder Hui Ka Yan sold his 1.2 billion Evergrande shares on November 25th, raising 2.7 billion $HK - about 0.35 billion USD. Hui Ka Yan's share ownership has fallen from 70,97% to 61,88%.  Reuters reported that Hui Ka Yan's wife Ding Yumei holds about 792 million shares of Evergrande ...

China 12/02/21, 12:26

According to official data issued on Wednesday Dec. 1, China's property market crisis deteriorated further in November, with prices for both new and resale homes falling amid weaker demand in bigger cities, as BBC reported. This sharp slowdown raises major concerns as the home market represents 25% of the GDP, some ...

Trending 11/18/21, 18:03

China Evergrande Group is selling all of its stocks in HengTen Network Group, it's streaming services firm known as the "Chinese Netflix."  The aim is to raise HK$2.13 billion (US$273.5 million) as an effort of the debt-laden behemoth to avoid default, Reuters reported on Nov. 18. By selling its 18% stake in HengTen, where Chinese gaming ...

China 11/10/21, 02:50

The China Evergrande Group is desperately searching to find the $148 million (£107 million) just before a deadline for a new debt interest payment. The most indebted world developer needs to make the payment of an overdue offshore bond coupon by Wednesday, Nov. 10, per Reuters.  BBC reported the organization had gathered ...

China 10/28/21, 02:50

While Beijing-based Li Ning group plans to raise $1.4bn through new shares for international expansion, China's Evergrande sold a $1.5bn stake in a bank to pay down some of its debt. On Thursday, Chinese sportswear group Li Ning Co. Ltd. announced its plan to sell $1.35 billion (HK$10.5 billion) worth of ...

China 10/26/21, 05:41

China's second-largest property developer, China Evergrande, appears to have averted default with a last-minute bond payment. Evergrande settled a bond debt of $83.5 million at the last minute on Oct. 22. However, many other obligations are due. The most pressing of which is due on Oct. 29. As a result, markets ...

China 10/13/21, 02:21

The spread of the COVID-19 has wreaked havoc on China’s economy, and real estate behemoth Evergrande is on the edge of bankruptcy, adding to a catastrophic power deficit across the country. The COVID-19 situation may improve more in the following months, but the other two issues will persist and are more ...

China 10/07/21, 14:38

Secretary of State Antony Blinken urged the Chinese communist regime to "act responsibly" in the face of the looming threat posed to the stock market by the risk of bankruptcy of real estate giant Evergrande. "China has to make sovereign economic decisions for itself, but we also know that what China ...