Posted by IDQWE001 > 2023-08-10 09:20 | Report Abuse

The RM1.5 billion sukuk, issued by Country Garden’s Malaysian unit Country Garden Real Estate Sdn Bhd (CGRE), was first rated by RAM Ratings back in 2015.

In response to The Edge’s queries, RAM Ratings spokesperson said: “We are in the midst of seeking further clarification from the client and will make the necessary announcement in due course. Under the terms of CGRE’s sukuk, a default of the guarantor (Country Garden Holdings) can trigger a cross default on the CGRE IMTN, if not remedied within the 30-day grace period.”

In December 2022, RAM Ratings had revised its outlook on the long-term rating of CGRE’s IMTN to “negative” from “stable”, while keeping its “AA3” rating, on expectation that Country Garden’s debt coverage levels will remain weak in 2023 or so amid the marked slowdown in the Chinese residential property sector. This was despite the Chinese government’s policy to help support the recovery in housing demand.

RAM Ratings had stressed that Country Garden’s position as China’s biggest residential property developer, minimal project concentration and commendable geographical diversity would continue to support the rating.

“This is complemented by its healthy liquidity position and diverse funding sources. On the other hand, a leveraged balance sheet and weaker debt coverage levels are moderating factors, as are the group’s focus on China’s more challenging Tier 3 and Tier 4 cities and its exposure to the sector’s vagaries and cyclicality,” it had noted.

A bond analyst whom The Edge spoke to said Country Garden’s missed bond coupon payments come as a surprise given that it is the biggest property developer in China.

Posted by IDQWE001 > 2023-08-10 09:21 | Report Abuse

“We will continue to monitor this space while checking with private bankers. In the meantime, we wish to mention that as the biggest property developer and with a good track record of property delivery, this news indeed comes as a surprise,” he said.

Nonetheless, he stressed that Country Garden is not considered defaulting on the payments yet due to the 30-day grace period. As such, he believes that the property firm will strive to look for cash to settle the coupon due or may even request for an extension for the coupon payments.

Bloomberg data shows that CGRE’s bondholders include Manulife Investment Management (M) Bhd with RM28.7 million worth of bonds maturing March 27, 2025, held across two funds as at April 30 this year.

A check on Maybank Asset Management Sdn Bhd’s product fact sheet also shows that as at June 30 this year, it held RM35 million worth of CGRE’s ringgit bonds maturing March 2025, and another RM25 million maturing May 4, 2026.

Maybank Asset Management Sdn Bhd also held US$1.8 million worth of Country Garden’s US dollar bonds maturing January 2024 and February 2026.

Meanwhile, AHAM Asset Management Bhd held US$7.72 million in Country Garden’s US dollar bonds maturing July 2026, as at end-March this year.

Country Garden has seen its shares and bond plunge following news that it was unable to make the coupon payments for two notes maturing in 2026 (worth US$10.5 million) and 2030 (worth US$12 million). Both payments have a 30-day grace period.

Posted by IDQWE001 > 2023-08-10 09:21 | Report Abuse

The developer’s next dollar bonds to mature, due Jan 27, slumped nearly 13 cents to 11 cents, according to prices compiled by Bloomberg.

Country Garden’s share price ended Tuesday's session at HK$1.13 — the lowest level since November last year — after dropping 14.39% or 19 sen. Year to date, it has fallen 58% from HK$2.67.

The missed payments have cast doubt over the group’s financial health and its potential impact on the already troubled property market in China.

Notably, another China commercial real estate developer Dalian Wanda Group made headlines last month after it failed to pay a coupon on its US$400 million bond due 2025, which was due on July 23.

However, the group managed to pay the coupon before the 10-day grace period, after it sold a unit to help pay down the dollar bond. It was reported that the group agreed to sell a 49% stake in a unit of Beijing Wanda Cultural Industry Co to China Ruyi Holdings Ltd for 2.26 billion yuan.

Source: TheEdge - 9 Aug 2023

Posted by IDQWE001 > 2023-08-10 14:46 | Report Abuse

Asia’s former richest woman donates 55% of her company, or $826 million, to charity

YANG HUIYAN, ASIA’S former richest woman, is donating over half of her company to a charity founded by her sister amid China’s real estate crisis.
The donation: Yang, the current chair of property management firm Country Garden Services Holdings Company, is giving away 55% of her personal stake, which equals to about an $826 million payout, reported Bloomberg.
The move comes as the company suffers through a net loss due to “the decrease in gross profit margin for real estate business and the increase in provision of impairment for property projects under the impact of the downward trend in sales of the real estate industry,” the company noted in a filing to the Hong Kong stock exchange on Monday.
According to a statement from the company, the 41-year-old tycoon has already transferred around 675 million shares (20%) of the business to the Guoqiang Foundation Hong Kong “for charitable purposes.” The foundation, which has pledged not to sell the shares within the next 10 years, will use the donation for public welfare purposes.

Posted by IDQWE001 > 2023-08-10 14:46 | Report Abuse

“We view this announcement as negative,” UBS analysts said in a research report. “The timing of the donation seems unusual to us, due to the recent market discussion on the liquidity situation.”
About Yang: Yang reportedly became China’s richest woman at age 25 in April 2007 when the company raised $1.65 billion in a Hong Kong initial public offering. She became co-chairperson of the company alongside her father in 2018 before taking over as the sole chairperson in March 2023 after her father resigned.
Over the years, her wealth has reportedly decreased from $34 billion to $7 billion. With just a 16.12% stake in Country Garden Services after her donation, she will lose her title as the company’s largest shareholder. However, Yang will still hold the voting rights of the donation, allowing her effective control of over 36% of the shares.

Posted by foongsh > 2023-08-11 12:30 | Report Abuse

碧桂园半年料亏348亿 只字未提美元债息情况

北京11日讯）碧桂园就不久前推动其股债齐跌的盈利预警，提供了更多细节，表示今年上半年将录得数百亿元人民币的巨亏。

这家在中国大陆排名第6的房企，周四晚在港交所发布公告称，预计前六个月净亏损在450亿（约284.8亿令吉）至550亿元人民币（约348亿令吉），而2022年同期它曾录得约19.1亿元人民币（约12亿令吉）的净利润。

该公司在7月31日仅笼统表示预计2023年上半年将出现亏损。

碧桂园还披露，今年首七个月权益销售金额，按年下降35%至1408亿元人民币（约891亿令吉）。

按销售额计，碧桂园过去几年一直是中国头号开发商。就7月单月而言，该公司权益销售金额按年下降60%，与2021年相比更是重挫78%。

受近期销售额与再融资环境持续恶化的影响，公司账面可动用资金持续减少，出现了阶段性的流动压力，” 碧桂园表示。

本周早些时候未能按期兑付两笔美元债利息后，该公司已进入了30天的宽限期。

碧桂园也是中国所剩无几尚未违约的大型房企之一。

中国政府正在努力重振陷入困境的房地产市场，此时该公司不偿债将打击原本就脆弱的投资者信心

Very bad performance due to collapsing of real estate.

Posted by foongsh > 2023-08-11 12:32 | Report Abuse

中国恒大地产集团去年净亏334亿　总负债1.16兆

（深圳11日讯） 中国恒大旗下恒大地产集团连发多份报告，根据其2022年度审计报告，期内净亏损527.2亿人民币（下同，约 334亿令吉）。截至去年12月底公司流动负债合计1.68兆人民币（约1.07兆令吉） ，而货币资金（包括现金及现金等价物和受限资金）总额为91.73亿人民币（58.31亿令吉）。公司总负债1.83兆人民币（ 1.16兆令吉），总资产1.47兆人民币（ 9345亿令吉）。

公司指出，已与境内其他贷款人积极磋商借款展期事宜，因贷款人分散且市场环境不断变化，仍需时间与个别贷款人逐一确定展期方案。

集团一直积极通过多种管道寻求新的融资或额外的资金流入，包括但不限于资产管理公司或金融机构的新融资、保交楼的专项借款及配套借款、与业务合作伙伴的业务合作、资产处置等。

截至目前，集团已通过上述管道实现若干业务合作，并为若干项目获得新的融资或额外资金。集团还将继续寻求新的融资或额外资本。

此外，公司指一直积极与债权人沟通，以解决未决诉讼。截至目前，集团已与部分债权人完成了和解安排。

集团有信心能够继续就现阶段尚未达成明确结果的诉讼达成友好解决方案；为响应当地政府确保交付的号召，集团将继续聚焦房地产项目的竣工交付，确保集团业务的稳定和可持续营运。

Bad debt as much as a country GDP another great acheivement by CCP.

Posted by foongsh > 2023-08-11 12:35 | Report Abuse

杨氏家族2.88亿股息入袋 碧桂园债主“望梅止渴”?

（北京11日讯）碧桂园债券持有人正在盯着该公司主席，亿万富豪杨惠妍，想看看她是否会动用个人财富，来支持这家陷入困境的房企。

根据彭博亿万富豪指数的预估，杨惠妍净资产应该在50亿美元（约228.5亿令吉）之上。

彭博预测，杨惠妍持有的碧桂园服务股份，将使其在周五获得约2800万美元（约1.28亿令吉）股息，这笔钱足以支付本周逾期的2250万美元（约1.03亿令吉）碧桂园债券利息。

杨惠妍家族拥有的一个基金会，还可以获得3500万美元（约1.6亿令吉）现金红利。

恒大创始人许家印是一个先例，之前债权人施压许家印自掏腰包为公司注资。

曾是中国最大房地产开发商的碧桂园，昔年被投资者视为业界模范生，如果这次不能在30天宽限期内兑付债券利息，该公司将加入恒大等违约房企的行列。

碧桂园偿债危机令地产业前景更趋黯淡，中国垃圾级美元债市场进一步下跌。

提早派息引发关注

在致彭博新闻社的一份声明中，碧桂园服务表示，5月份批准的派息计划与任何第三方因素无关，将派息日期提前至周五的原因，是公司有充足的现金，希望以此减轻对稳定性的担忧。

分析员表示，出售股份可能有助于碧桂园在短期内筹集现金，现在该公司可出售的投资物业数量并不多，其资产可能对其他开发商或投资者没有吸引力。

除了数十亿美元股息外，杨氏家族持有的碧桂园和碧桂园服务股份，价值分别高达20亿美元（约91.4亿令吉）和12亿美元（约54.8亿令吉），并通过家族信托拥有博实乐教育2000万美元（约9140万令吉）股份。

Got money paid dividends but no money to pay loan interests. What a joke.

Posted by IDQWE001 > 2023-08-11 12:44 | Report Abuse

Most Asian stocks sank on Friday, with Chinese shares leading losses on persistent concerns over the property market, while data showing a rise in U.S. inflation did little to improve sentiment.

Fears of slowing growth in China continued to chip away at regional sentiment, following a string of weak economic readings from the country this week. Concerns over a property market meltdown also saw a resurgence this week amid reports that the country’s biggest developers were struggling to meet their debt obligations.

Chinese markets slide amid economic gloom, property market jitters
China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes slid 1.7% and 1.4%, respectively, while Hong Kong’s Hang Seng index shed 0.8%.

The three indexes were set to lose between 2% and 3% this week, as dismal trade and inflation data for July pointed to continued economic weakness in the country.

Heavyweight property stocks were hit with a fresh wave of selling on Friday after Country Garden Holdings (HK:2007), one of the biggest real estate firms in the country, warned of a massive loss for the first half of 2023, due to a persistent downturn in the sector.

The warning came after the company said it missed two dollar bond payments, while media reports also suggested that the firm was seeking debt restructuring amid a worsening outlook.

Country Garden’s Hong Kong shares slumped nearly 12%, while peers China Hongqiao Group Ltd (HK:1378) and Longfor Properties Co Ltd (HK:0960) sank between 4% and 5%.

Sentiment towards China was also hit by the White House imposing new curbs on tech investment in the country, which pushed up concerns over a resurgence in trade tensions between the world’s largest economies.

Posted by IDQWE001 > 2023-08-11 12:47 | Report Abuse

President Joe Biden on Wednesday signed an executive order that will prohibit some new U.S. investment in China in sensitive technologies like computer chips and require government notification in other tech sectors.

The long-awaited order authorizes the U.S. Treasury secretary to prohibit or restrict U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems.

Hong Kong & Macau are included in the orders ban.

Posted by qqq47660 > 2023-08-11 15:05 | Report Abuse

no reason for a Malaysian to be a cockroach.

Posted by foongsh > 2023-08-11 16:52 | Report Abuse

Posted by IDQWE001 > 4 hours ago | Report Abuse

Most Asian stocks sank on Friday, with Chinese shares leading losses on persistent concerns over the property market, while data showing a rise in U.S. inflation did little to improve sentiment.

Xi bring the country to wrong direction.

Posted by IDQWE001 > 2023-08-14 09:42 | Report Abuse

Chinese blue chips also lost 3.4% last week amid a string of disappointing economic news, culminating in a dire report on new bank loans in July.

Figures on retail sales and industrial output are due Tuesday and analysts assume they will underwhelm, keeping downward pressure on the yuan.

Adding to concerns about the deteriorating health of the country's debt-laden property developers was news two Chinese listed companies had not received payment on maturing investment products from Zhongrong International Trust Co.

China's Country Garden, the country's top private property developer, is also set to suspend trading of its 11 onshore bonds from Monday.

Posted by IDQWE001 > 2023-08-14 10:23 | Report Abuse

CCP Lenman Brothers version 2.0

Posted by IDQWE001 > 2023-08-14 18:22 | Report Abuse

Chinese residential real estate giant Country Garden (HK:2007) suspended trading in more than ten of its onshore bonds on Monday, sparking a sell-off in the company's Hong Kong-listed shares as well as other stocks exposed to the country's ailing property sector.

Media in China reported that Country Garden, once China's largest developer by sales, is also seeking a potential debt structuring after it warned of a sharp loss in the first half of 2023.

Taken in conjunction with peer Evergrande (HK:3333), which last month reported combined losses of more than $81 billion in 2021 and 2022, the ongoing issues in China's real estate sector now seem to be intensifying. The industry has been severely hit by a liquidity crisis fueled by a slowdown in buyer demand, which has in turn weighed on the post-pandemic recovery of the world's second biggest economy.

Longfor Properties (HK:0960) and Seazen Group (HK:1030), two other Chinese real estate firms currently considered to be financially healthy, saw their shares and bonds dip on Monday.

China's government has chosen not to step in to bail out the struggling property businesses yet, but the issues at Country Garden, Evergrande, and elsewhere have spurred on calls for Beijing to provide more support.

Posted by IDQWE001 > 2023-08-14 18:25 | Report Abuse

Chinese Trust Firm Clients Say Wealth Product Payout Delayed
Liquidity concerns arise over major shareholder of Zhongrong
Delay is latest sign of turmoil in China financial sector
August 13, 2023 at 1:41 PM GMT+8
Updated on August 13, 2023 at 3:03 PM GMT+8
Two clients of Chinese trust company Zhongrong International Trust Co. said the firm delayed payment of maturing wealth products amid reports of liquidity concerns at a major shareholder, the latest sign of turmoil in China’s financial sector.

Nacity Property Service Co. and KBC Corp. first announced news of the delayed payments in statements Friday evening. KBC, a carbon products manufacturer, said in a statement with the Shanghai Stock Exchange that the delayed payments were tied to 60 million yuan ($8.3 million) invested with Zhongrong and wouldn’t affect company operations.

From real estate crisis till financial crisis.

Posted by IDQWE001 > 2023-08-16 19:02 | Report Abuse

Zhongrong Trust's missed payments trigger fears among Chinese investors

Anxious Chinese retail investors are bombarding listed companies with questions about their exposure to Zhongrong International Trust Co after missed payments by the trust company triggered fears of contagion across the country's financial system.

Investors had submitted more than 100 questions to dozens of Shanghai- and Shenzhen-listed companies via investor relation platforms asking whether they had bought Zhongrong's products, after two listed firms disclosed late on Friday that they had not received payment on maturing trust products from Zhongrong.

The long list of queries, which keeps growing, suggests Zhongrong's liquidity crunch could trigger broader fears, and risk of contagion in a financial system already under pressure from China's slowing economy.

This shows the negative impact of the Zhongrong incident has been "partly priced in by the market," said Huang Yan, general manager of private fund manager Shanghai QiuYang Capital Co.

Zhongrong, controlled by Chinese financial conglomerate Zhongzhi Enterprise Group, traditionally had sizable real estate exposure. Its missed payments had added to stress in the financial sector from the country's worsening property crisis.

One investor on Wednesday asked Shanghai-listed New China Life Insurance Company (OTC:LFCHY) - which owned 14 billion yuan ($1.92 billion) of products from Zhongrong at the end of last year - whether there was a risk of missed payments. The company did not reply.

KBC Corp, after disclosing it had 60 million yuan of unpaid mature trust products from Zhongrong, told investors on Wednesday that other wealth management products the firm bought were all low-risk products from banks and securities firms.

Investors also asked dozens of other listed companies including Bescient Technology Co, Shanghai New Vision Microelectronics Co, Nanhua Instruments Co, Jiangsu Azure Corp whether they held investment products related to Zhongrong or Zhongzhi.

Most companies either said they did not own such products or had not responded.

Topsperity Securities said roughly 60 companies had disclosed that they owned Zhongrong's trust products, and a majority of them were small companies with less than 10 billion yuan of market value.

Lehman Brothers crisis 2.0

Posted by IDQWE001 > 2023-08-17 22:51 | Report Abuse

China’s property crisis hits state-owned developers
Although backed by ‘rich daddies,’ Sino-Ocean Group faces debt problems too big to handle in a sluggish market

Falling property prices in China have caused debt problems for not only private developers such as Evergrande and Country Garden, but also state-owned ones, which are supposed to be able to get financial resources from their rich parents.

Sino-Ocean Group, a state-owned property developer, said Monday that it had failed to pay interest of US$20.9 million for its US$700 million notes by Sunday, which was the last day of the 14-day grace period for the interest payment. It said trading of the notes had been suspended on Monday due to the default.

The company is seeking to delay the interest payments further, to September 30, by passing an extraordinary resolution in a special meeting on Thursday.

Before this, the company had failed to repay the principal of a five-year corporate bond worth 2 billion yuan (US$275 million) on August 2. It said it will default if it fails to make full repayment of the principal and interests of the bond by September 1.

As of Tuesday, shares of Sino-Ocean have decreased this year by 69% to 34 HK cents (4.4 US cents).

Chinese commentators said Sino-Ocean’s debt problems will worsen the home market sentiment as many homebuyers will delay their purchase plans. They said such a trend will further drag the property prices in China, causing bigger losses and financial difficulties to property developers.

Real estate crisis from private developers to GLC developer.

Posted by IDQWE001 > 2023-08-18 21:34 | Report Abuse

Evergrande seeks US court nod for $32 billion debt overhaul as China economic fears mount

By Clare Jim, Jonathan Stempel and Dietrich Knauth

HONG KONG/NEW YORK (Reuters) - Embattled developer China Evergrande Group has filed for U.S. bankruptcy protection as part of one of the world's biggest debt restructurings, as anxiety grows over China's worsening property crisis and its impact on the weakening economy.

China unexpectedly lowered several key interest rates earlier this week in a bid to shore up struggling activity and is expected to cut prime loan rates on Monday, but analysts say moves so far have been too little, too late, with much more forceful measures needed to stem the economy's downward spiral.

Once China's top-selling developer, Evergrande has become the poster child of an unprecedented debt crisis in the country's property sector, which accounts for roughly a quarter of the economy, after facing a liquidity crunch in mid-2021.

The developer has sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies that are undergoing restructurings from creditors that hope to sue them or tie up assets in the United States.

Posted by IDQWE001 > 2023-08-18 22:01 | Report Abuse

CCP member private developer sought for protection in US court ?? What a joke.

Posted by qqq47660 > 2023-08-18 23:01 | Report Abuse

cockroaches still active?

Posted by qqq47660 > 2023-08-18 23:02 | Report Abuse

it is understood long long time already China will not bail out those foreign bond holders.

Posted by qqq47660 > 2023-08-18 23:09 | Report Abuse

China sneezes rest of the world catch the cold.

Posted by IDQWE001 > 2023-08-18 23:38 | Report Abuse

CCP dogs so proud of CCP property bubble burst. Very anti Chinese.

Posted by IDQWE001 > 2023-08-18 23:43 | Report Abuse

China’s No.1 Real Estate Company in Crisis, 900K Units Left to Rot & Trillions in Debt

https://youtu.be/sErbt4m4TGY

Posted by IDQWE001 > 2023-08-18 23:44 | Report Abuse

China Shadow Bank Zhongrong Misses Payments, Sparking Protests

https://youtu.be/QTV3pFxGdQo

Posted by IDQWE001 > 2023-08-18 23:46 | Report Abuse

Tens of Trillions in Assets Vanished: The End of China’s Real Estate Economy Is Here!

https://youtu.be/n3GxbNlt75Y

Xi behaves like tikus not able to solve the issues hiding in lubang. Lol.

Posted by qqq47660 > 2023-08-18 23:51 | Report Abuse

China miracle is more than just GDP its also keeping inflation down.

China miracle is more than just GDP..the benefits can be seen, and enjoyed.

Posted by qqq47660 > 2023-08-18 23:55 | Report Abuse

western media narrative has pivot from China threat to China collapsing because they want Biden to be re elected instead of Trump.................... but China miracle is more than GDP, its all round improvements in China , comprehensive improvements in China

Posted by qqq47660 > 2023-08-19 00:00 | Report Abuse

u think China collapse means victory for America/ for Biden meh? If China sneezes, rest of the world catches the cold.

Posted by qqq47660 > 2023-08-19 00:06 | Report Abuse

western media and cockroaches unable to accept the reality that China miracle is 100% because of the CCP not despite the CCP.

Posted by qqq47660 > 2023-08-19 00:07 | Report Abuse

look at India, in another 100 years India will still not look as good as China.

Posted by qqq47660 > 2023-08-19 00:12 | Report Abuse

https://www.youtube.com/watch?v=oat5kwapMUw&t=64s

.....in 20 years, Ireland became one of the world richest country at least in terms of GDP per capita........................but people still suffer. goes to show China miracle is truly a miracle.

Posted by foongsh > 2023-08-19 09:06 | Report Abuse

Posted by IDQWE001 > 9 hours ago | Report Abuse

Tens of Trillions in Assets Vanished: The End of China’s Real Estate Economy Is Here!

https://youtu.be/n3GxbNlt75Y

Xi behaves like tikus not able to solve the issues hiding in lubang. Lol.

changes likes of which we haven’t seen for 100 years, property bubble burst made in CCP.

Posted by foongsh > 2023-08-19 09:07 | Report Abuse

Posted by IDQWE001 > 9 hours ago | Report Abuse

China Shadow Bank Zhongrong Misses Payments, Sparking Protests

https://youtu.be/QTV3pFxGdQo

changes likes of which we haven’t seen for 100 years, from property bubble burst till financial crisis.

Posted by foongsh > 2023-08-19 09:08 | Report Abuse

Posted by IDQWE001 > 9 hours ago | Report Abuse

China’s No.1 Real Estate Company in Crisis, 900K Units Left to Rot & Trillions in Debt

https://youtu.be/sErbt4m4TGY

changes likes of which we haven’t seen for 100 years, debts like a black hole worst than 3rd world country. CCP's contribution to the world.

Posted by qqq47660 > 2023-08-19 09:42 | Report Abuse

Western narrative have changed from China threat to China collapsing..celebrating biden victory over China.
This is preparation for 2024 election season.

But if China sneezes rest of the world catches the cold....see biden celebrate or not la

Posted by qqq47660 > 2023-08-19 09:45 | Report Abuse

Even solar panels exported from Malaysia America also want to tarif and sanction because they contain China raw materials...biden does not want green energy if it contains China raw materials...that is the real biden.

Posted by qqq47660 > 2023-08-19 09:47 | Report Abuse

China nuclear plants biden want to sanction, because he is so scared of China development....does biden really care about green energy?

Posted by qqq47660 > 2023-08-19 09:48 | Report Abuse

America just want to war war war all the time. America is at heart a very irresponsible country

Posted by qqq47660 > 2023-08-19 10:01 | Report Abuse

America want to champion globalisation when it suits them, sanction and tarif and close down globalisation when it does not suit them. China retaliation starting with gallium is just the beginning...China has other tools to punish America when it is needed..... eventually it's consumers and globalisation that suffers

Posted by IDQWE001 > 2023-08-19 10:14 | Report Abuse

Posted by foongsh > 1 hour ago | Report Abuse

Posted by IDQWE001 > 9 hours ago | Report Abuse

Tens of Trillions in Assets Vanished: The End of China’s Real Estate Economy Is Here!

https://youtu.be/n3GxbNlt75Y

Xi behaves like tikus not able to solve the issues hiding in lubang. Lol.

changes likes of which we haven’t seen for 100 years, property bubble burst made in CCP.

CCP commit suicide could not blame anyone.

Posted by IDQWE001 > 2023-08-19 10:15 | Report Abuse

Posted by foongsh > 1 hour ago | Report Abuse

Posted by IDQWE001 > 9 hours ago | Report Abuse

China Shadow Bank Zhongrong Misses Payments, Sparking Protests

https://youtu.be/QTV3pFxGdQo

changes likes of which we haven’t seen for 100 years, from property bubble burst till financial crisis.

Chasing blindly GDP as KPI high leverage is a silly strategy.

Posted by IDQWE001 > 2023-08-19 10:17 | Report Abuse

Posted by foongsh > 1 hour ago | Report Abuse

Posted by IDQWE001 > 9 hours ago | Report Abuse

China’s No.1 Real Estate Company in Crisis, 900K Units Left to Rot & Trillions in Debt

https://youtu.be/sErbt4m4TGY

changes likes of which we haven’t seen for 100 years, debts like a black hole worst than 3rd world country. CCP's contribution to the world.

Building white elephants to boost GDP would not bring in revenue to cover operating cost.

Posted by qqq47660 > 2023-08-19 12:13 | Report Abuse

China is a land of geniuses, united smart ...nothing to be scare of.

Posted by qqq47660 > 2023-08-19 12:38 | Report Abuse

Western media just want to tarnish to demonise China, only cockroaches believe them

Posted by qqq47660 > 2023-08-19 12:51 | Report Abuse

China is a land of geniuses, well led...can stop its technological development meh?

Posted by qqq47660 > 2023-08-19 12:55 | Report Abuse

Western media cannot accept China can do so well.....that is their problem not China's problem

Posted by klee > 2023-08-19 13:11 | Report Abuse

Aiya,crisis is crisis.Geniuses so what?Sun Tze n Confucius were the tops,yet china suffered for thousands of years till Teng came to power.It is not to say china cannot return to former glory,but this takes HARD WORK n SACRIFICES.Meanwhile millions will suffer.

Posted by klee > 2023-08-19 13:13 | Report Abuse

https://www.scmp.com/video/china/3150506/unpaid-evergrande-supplier-sells-car-and-home-rescue-his-business