Evergrande Group Is Out of Breath, Some Projects Halted
Translated by MOS Christianity Group Lilian89
In news from Chinese real estate company Evergrande, the Wall Street Journal reported on Sept. 1 that the Communist Party’s Evergrande Group said some of its real estate projects have been halted after delays in payments to suppliers and contractors. Apparently, Evergrande’s financial problems have seriously affected its business operations. If the liquidity problem cannot be solved in time, a series of debt defaults will be inevitable.
Evergrande is the largest issuer of “junk debt stocks” in the Communist Party of China, and in recent years the company has borrowed heavily in the offshore and onshore financial markets to finance its rapid expansion and launder money.
The Wall Street Journal reports that investors holding Evergrande bonds have sold them below 40 percent of face value, indicating that investors generally believe the likelihood of default is high. Over the past month, Evergrande has been out of breath as several banks have cut off its funding and the Shaoyang government has suspended two of its major construction projects in the region. Mr. Guo Wengui revealed that Evergrande is the white glove of Xi Jinping’s brother Xi Yuanping, so naturally, it cannot escape the attack of the Shanghai gang, but Xi Jinping will definitely retaliate and make the “TikTok” under the command of the Shanghai gang burst!
Edit/Proofread/Posted by Eglise Bell 圣母院钟声
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