What's new

🚨 CNBC: [Modern day Ponzi Scheme] Chinese property developer Evergrande posts $81 billion loss over the past two years

. .
Instead off letting the company implode under a $300 billion pile of debt, Chinese authorities opted for what analysts called a “controlled demolition” — essentially managing the corporation through a gradual collapse. Since then, the company has continued to limp on, posing a continual headache for the policymakers who are trying to restore confidence in the real estate sector.

The group finally came clean about the extent of its near-fatal cash crunch and the slow progress it has made toward resolving its financial difficulties when it released a repeatedly delayed earnings report late on Monday local time.

Aside from the $81 billion in losses, Evergrande’s total liabilities continued to grow in 2022, reaching $335 billion compared with just $251 billion in assets, according to the earnings statement.

Hong Kong-traded shares in Evergrande have been suspended since March 2022, meaning the company is just two months away from being delisted from the stock exchange.

Evergrande also said on Monday that it will meet with its overseas creditors this month to try to reach a deal on debt restructuring.

@beijingwalker modern-day Ponzi scheme
Regualtors should take over
Sell the pieces
Pay back the effectee(home owners)
Let the investors take the loss

That's how regulators work
But don't know what China is doing

Look at USA banking crisis that's what happened
 
. .
_20230714133319-png.938881

You need some form of differentiation. Chinese embark on massive urban migration last 40 years, and seen urban population rising from 20% to about 70% today. All people got house in village but MOST Beijing people do not even have a residence status.

You do not see much public house in Beijing, 95% are private costing around USD 2 million within 3rd ring.
 
.
You need some form of differentiation. Chinese embark on massive urban migration last 40 years, and seen urban population rising from 20% to about 70% today. All people got house in village but MOST Beijing people do not even have a residence status.

You do not see much public house in Beijing, 95% are private costing around USD 2 million within 3rd ring.
It is about China, not Beijing, China has just one capital which makes Beijing a special place, even though, all my friends own at least one house in Beijing, it's extremely rare to find a Beijinger who doesn't have a house. in addition, Beijing offers 经济适用房,两限房,廉租房。。for low income families.
 
.
All the big property developers are princelings or their white glove. They uses their network to get land, make massive profits. A lot hate CPC because CPC is for socialism.

These princeling uses all means to ship profit away from China.

To avoid paying tax, they cook the book so that there appears to be big loss. Or they can borrow massively from banks and then either declare bankrupt or ask for state bailout.


1689750755138.png


White glove above making scandalous $$$$ from China and keep talking bad about China, and move monies oveseas.
 
.
我对恒大负债两万亿并不感到惊讶,感到惊讶的是许家印和他的同伙们竟然至今依然逍遥法外
 
.

Latest posts

Pakistan Defence Latest Posts

Pakistan Affairs Latest Posts

Back
Top Bottom