Another billionaire helps China’s Evergrande with stake purchase

Chus are the latest billionaire family to help out their pal, the Evergrande founder, with a 51 percent stake purchase offer.
In China, the property developer Fantasia Holdings failed to make a payment of $205m to its bondholders on Monday.
Investors are already worried that the housing giant Evergrande Group might collapse.
Evergrande is facing China's largest ever default as it struggles with more than $300bn of debt.
Al Jazeera's Rob McBride reports from Hong Kong.


#China #Evergrande

[unknownuser]

Now Chinese property developer Fantasia missing a huge loan payment on top and we are now seeing possible Chinese property bubble starting to burst.

[SeArChDrEaMz]

Im totally sure that tycoon did this out of the generosity of his own heart and not at all cause he got pressured to do so (yes im being sarcastic)

[riccardo]

That's the Capitalist side of China failing, just as it did globally in 2008. China has to evolve economically otherwise it will have constant crises.

[Holuunderbeere]

Downtrend has started, can't stop it now.

You would need the goverment to step in now

[HowlingMurphy]

Not allowed to fail. What a great business model

[davebull]

In may 2021 reports were "foreign investors snapping up Chinese bonds", now they are back of the line....

[fbhyehy]

Divide up the toxic assets and force private and state owned real estate enterprises to buy and hide them on their balance sheets

[oceanwave]

Collectivism on display in China! Under CPC leadership, stability is of utmost importance.

[kughalumulatonu]

This is real. This is China. This is Superpower.

[panoptijohn]

Get your money out if you still can. Worse is coming.

[davebull]

Apparently Evergrande have off the books debt as well... ouch

[dskyy]

Mis-reporting. Buying a portion of a failing company is not the same as investing in a failing company. Investing assumes further possible support. Government aid is not investing but government takeover.

[patricia]

Immediately after I lost my job I taught life has come to an end not knowing that God has a better plans for me has been of good help to me and my family also contact

[CHMichael]

Billionaires being on the sh.. list of the ccp, helping evergrande might be a good way to maintain your freedom.

[willybyun]

Return our money but the money is all gone . It’s been gambled, drunk, prostituted, gifted, bribed, eaten etc.

[ernstgoldman]

Misleading headline meant to indicate that the crisis is somehow getting under control while the opposite is the case. The crisis is just unfolding.

[jesantonihevileon]

How the crisis started ?
Who is the responsible of that situation ?
What' what so wrong?

[xpengfangirl]

the red sportscar at 2:04, fake or real?

[Dwightstjohn-foki]

Exposure to the overseas bond market (then she winks) but those bond holders are LAST IN LINE to get any payment. HERE WE GO AGAIN.

[mr.goldfarmer]

There is a lot of distribution activity in the markets right now. It's not over yet, although there will be some bounces in the markets.