Evergrande sells four projects to state-owned firms to deal with debt burdens

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 ...

China real estate companies’ financing fell by 70% in January

Economy 02/13/22, 16:07

According to the monitoring data released by the China Index Research Institute on Feb. 9, the total financing of real estate enterprises in January 2022 was $12 billion, a year-on-year decrease of 70.3% and a 16.6% month-on-month decrease. The China Index Research Institute said that continuing a downward trend that began ...

Many Chinese real estate company auditors resign, raising concerns about developers’ financial health

Economy 01/31/22, 13:59

As the financial reporting season for listed companies approaches, several auditors in Chinese real estate companies have resigned, further heightening concerns about the financial situation of Chinese developers. Some economists have pointed out that auditors' resignations are often signs of a listed company's financial trouble. Bloomberg reported on Jan. 28th that ...

China: The advent of darkest days for the used housing market

China 10/19/21, 16:06

The worst period for used homes in China has arrived, as all the statistics show. The amount of ghost properties (abandoned, deserted, and uninhabited) in China's real estate market is large enough to cover the entire country of Germany. Real estate developers are unable to borrow because their debt bombs ...

Is Evergrande ‘Grey Rhino’ capable of bringing down China’s economy?

China 09/27/21, 04:14

The long-awaited debt crisis in China has finally arrived. The news has recently reported on debt collection cases involving the "Evergrande Real Estate" firm, a Chinese real estate behemoth, prompting victims to fight for their rights in several locations. Chinese real estate enterprises frequently employ high leverage. For example, three or ...

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