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In December last year, both Kaisa and Evergrande were downgraded by a rating agency and are currently at the default level. Some industry sources pointed out that Kaisa is now actively communicating with overseas bond holders, hoping that foreign capital will provide new loans to redeem mature wealth management products.
The source also revealed that under the pressure of the Chinese Communist government, Guo Yingcheng even expressed concern about his personal safety.
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