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World Evergrande shares exposed from trade

15:11  03 january  2022
15:11  03 january  2022 Source:   pressfrom.com

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The shares of the highly neglected Chinese real estate company Evergrande have been exposed to the Hong Konger Stock Exchange on Monday. This was announced by the stock exchange without further giving reasons.

Eine Aufsichtsperson steht neben einer Karte in Peking, auf der die Evergrande-Entwicklungsprojekte abgebildet sind. © Andy Wong / ap / dpa A supervisor is located next to a card in Beijing, on which the Evergrande development projects are shown.

Evergrande has accumulated debts of more than $ 300 billion (266 billion euros), mostly among domestic investors. The share price of the real estate developer was broken by nearly 90 percent last year.

has been concerned about the solvency of Evergrande for some time. For the company, interest payments were paid to foreign bonds of $ 255 million last Tuesday, with a market-standard grace period.

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According to Chinese reports from Saturday, Evergrande has also been instructed by the authorities to tear a huge residential project with a total of 39 apartment buildings on the southern Chinese island of Hainan within ten days. The real estate project, which is to extend on a total area of ​​almost 435,000 square meters, was therefore illegally built.

Lastly, in addition to Fitch, Standard & Poor's (S & P) as a second international rating agency, down the creditworthiness of Evergrande - on credit loss in some areas and thus a level before the complete default. Shortly before, the real estate developer based in Shenzhen himself had been issued a warning that in the current financial situation could not be assumed a guarantee of all outstanding obligations in a timely manner.

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Other Chinese real estate companies in District

At the same time, further Chinese real estate companies in the course of the Evergrande crisis came into attention. In December, the share prices of the leading companies in the industry fell to the lowest level for five years. The stumbling company Kaisa, for example, brought external consultants on board to free themselves from his difficult situation. The SUNAC company last also lit among the burdening stock prices.

that the long booming market suffers a sustainable damper, also proves a Survey of the Chinese Central Bank published by the State Message Agency Xinhua. Accordingly, almost 57 percent of all Chinese assume that real estate prices remain unchanged in the first quarter of 2022, another 15.2 percent await a decline. "It's pretty clear that 2021 has broken confidence in the ever-increasing real estate prices," commented Michael Pettis, economist at Beijing University.

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