China audits Evergrande and Xu Jiayin assets

China 12/19/21, 04:13

The Chinese Communist Party (CCP) is auditing the assets of China Evergrande Group and Evergrande Chairman Xu Jiayin, according to Reuters. People familiar with the matter also said that Evergrande's liquidity is severely lacking. In addition, previous methods of restructuring state assets may not be suitable for Evergrande. Reuters reports that ...

Evergrande founder forced to sell $60 million in company shares

China 12/12/21, 02:46

Evergrande founder Xu Jiayin has been pressured to sell $60 million of his Evergrande shares as the Chinese Communist Party (CCP) stepped in to assist the real estate tyrant with its debt crisis. The Hong Kong Stock Exchange reported that $277.8 million Evergrande shares pledged by Evergrande Chairman Xu Jiayin and ...

Evergrande founder sells Hollywood Hills mansion at loss

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 ...

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