China Evergrande Real Estate
Evergrande sells four projects to state-owned firms to deal with debt burdens
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 ...
Courts freeze Evergrande’s $158 million in assets for overdue construction payments
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 ...
Investors sell off electronics retailer Suning stock over announcement of $6.8 billion loss
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$0.57), down about 3%. Since the beginning of 2021, the retailer's stock has already lost half ...
Real estate crisis: Could it lead to the collapse of the Chinese regime?
The crisis of the Chinese real estate giant Evergrande implies something much more serious than the simple collapse of a real estate company. As the crisis deepens, it is becoming clear that what is really crumbling is an entire real estate system based on economic speculation and not on real ...
Evergrande stock drops as its restructuring plan disappoints creditors
According to Reuters, shares of China Evergrande Group tumbled on Thursday, Jan. 27, as investors in the debt-laden developer were skeptical of the company's thinly detailed plan to have a preliminary restructuring proposal in place in six months. Evergrande's shares dropped 9.6% to HK$ 1.60 (or US$ 0.205), the lowest in ...
Haikou authorities take multiple Evergrande land lots without compensation
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 ...
Evergrande problem results from poor management, not overall market risk, Central bank says
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 ...
Fantasia is struggling to cope with the dying real estate in China
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 ...
Evergrande founder sells Hollywood Hills mansion at loss
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 ...
Evergrande defaulted on $260 million debt: Bankruptcy could be next
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 ...
Beijing says monetary policy easing is unrealistic, regardless of worsening economic crisis
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 ...
Evergrande founder sells almost 10% stake amid debt crunch
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’s property: Home market prices fall, trend to continue in following months
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 ...
Evergrande sells entire stake in HengTen—China’s Netflix—to relieve debt burden
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 ...
Evergrande searching for last minute money to pay new overdue deadline
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 ...
Contrast picture of Chinese groups: One plans $1.4bn share sale for global expansion; the other sells $1.5bn stake to pay debt
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: Evergrande paid off a debt at last-minute
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 ...
Three punches delivered to China’s economy
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 ...
US urges Chinese regime to ‘act responsibly’ on Evergrande’s financial crisis
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 ...
Fears of Evergrande contagion mount as another Chinese developer misses payment
A midsize Chinese real estate developer missed a $282.1 million bondholder payment today, adding to the industry's financial woes as one of the country's largest developers fights to avoid defaulting on billions of dollars in debt. Like its larger rival, China Evergrande Group, Fantasia is based in Shenzhen and has struggled ...

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