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Ireland Evergrand pays part of its interests and reassures international markets

15:30  22 september  2021
15:30  22 september  2021 Source:   ouest-france.fr

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À Shanghai, les bureaux du groupe chinois Evergrande, second investisseur dans l’immobilier du pays, le 22 septembre. © Aly Song Reuters in Shanghai, the offices of the Chinese group Evergrande, second investor in the country's real estate, on September 22.

The giant of Chinese real estate, overwhelmed by a colossal debt, reassured the markets by regulating on Wednesday 22 September a small part of its interests. But the financial places are waiting to see if Beijing will save the group.

Chinese remake scenario at the Lehman Brothers is not for today ... but still is likely for tomorrow. Evergrande , the Chinese group specialized in the Real Estate still crumbles on a colossal debt of 260 billion euros. But he demonstrated this Wednesday, September 22nd that he was still moving by ensuring the payment of a small part of his debt. To avoid bankruptcy, it will nevertheless have to resort to the help of the Chinese government, which for the moment, keeps silent on its intentions.

Evergrande: Anger rides in China against the National Real Estate Giant

 Evergrande: Anger rides in China against the National Real Estate Giant © Pixabay Evergrande: Anger rises in China against the National Real Estate Giant Evergrande's Deck Attack the anger of Chinese buyers, always Looking forward to their good. "Make the money!" : The discontent of spoliated owners widening Wednesday, September 15th in China against the Evergrande National Real Estate Giant, whose financial health continues to worry.

A Chinese Lehman Brothers?

The whole world remembers images, in 2008, Employees of Lehman Brothers leaving their building, their cartons in the arms. They accompanied the fall of the US giant of the Bank, swept away by the subprime crisis. And the beginning of another global economic crisis, a consequence of the deregulation of interconnected financial markets.

Read also: The 18 months that led to the fall of Lehman Brothers

today, new images feed the idea of ​​a similar scenario, in Chinese version. Those of a middle class that has invested in real estate, in full boom in China, and is headquartered in front of the premises of Evergrande's bank in Shenzhen to claim the amounts already invested in projects at the stop. The AFP evokes 1.4 million housing housing. Suppliers also expect the payment of their invoice.

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The payment of interest reassures ... a little

in a statement, Evergrand has announced the repayment of 30.5 million debts owed for Thursday, September 23: "Holders who bought and hold obligations are entitled to payments. interest ". The gesture reassures, but the situation continues to worry the financial markets. Other borrowings are due. "For confidence to come back for good, the market should be able to glimpse from Evergrande's restructuring prospects" said Gary Dugan, the Global CIO Office (Singapore) to the Bloomberg Financial Agency.

In a media affiliated with the Chinese state, Xu Jiayin , the billionaire who runs the private group, assured that "This dark period will soon be exceeded. We will provide a response to buyers, investors, partners and financial institutions. " But finance specialists believe that the lack of payment is a matter of time and are primarily wondering how Beijing will manage the consequences.

Dominique Guillot.

China buys more golden a snowball effect on the banks .
© Pixabay China buys more gold, Evergrand has fears a snowball effect on banks the risks associated with disaster Evergrande encourage Chinese to buy gold, worth refuge par excellence. in China, the Evergrande Devocations - and the risk of major benefits at different levels (real estate, growth, banks ...) - Integrate individuals to buy refuge values, such as gold .

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