US News China: Evergrand is not "Too big to go bankrupt", warns the Global Times
China: Evergrand titles fall after new
China-Evergrande-Obligations Degradations: China: Evergrand Titles fall after new Degradations © Reuters / Bobby YIP China: Evergrand Titles fall after new Degradations by Andrew Galbraith Shanghai (Reuters) - The drop in the value of the obligations and actions of the China Evergrande Group Real Estate Promoter continued on Tuesday after degradation by two rating agencies, which question its ability to restructure its debt. The number two of the Chinese real estate market has a debt of 1.970 b
Evergrand Debt: China: Evergrand is not "Too big to go bankrupt", warns the Global Times
Hong Kong (Reuters) - the editor of the Chinese state Global Times warned the giant of real estate promotion Evergrande, Heavily indebtedness, that the group was not necessary on a rescue of the state on the basis of the hypothesis it is "too big to go bankrupt".
This is the first commentary in a public media questioning the bailout by the Government of the country's second real estate developer, which again fell on the stock market because of the fears of a possible lack of payment.
biders and XI calls to "fate in the world"
US President Joe Biden and China's head of state Xi Jinping see the danger that the tensions could end between their countries in a confrontation. © Adam Schultz / White House / Zuma / Picture Alliance For the first time since seven months, US President Joe Biden and China's state and party leader Xi Jinping have once again phoned each other. Against the background persistent tension between the rival grand powers , the white house spoke of a "wide, strategic discussion".
Evergrande displays a debt of about 1,970 billion yuan (nearly 260 billion euros) and many fear to see it compelled to declare itself in cessation of payment, which could have repercussions on the whole Chinese financial system .
In a comment on the social network Wechat, the editor of the Global Times, Hu Xijin, said Thursday that Evergrande had to turn to the market to find his salvation, not to the government.
It considered unlikely that eventual bankruptcy of Evergrand will trigger a financial crisis as serious as that known after the fall of Lehman Brothers in 2008.
The Global Times is a nationalist tabloid published by the daily life of the people, the Official press organ of the Chinese Communist Party. His opinions do not necessarily reflect the official thought of politicians.
On the Hong Kong Stock Exchange, the Evergrand action dropped by 5.32%, at the lowest since October 2011. China Minsheng Banking Corp, one of Evergrand's leading creditors, returned from 4.97%, to a lower historical.
(Report by Clare Jim, Blandine Hénault for the French version, edited by)
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