Home » The domino effect?Another real estate company exploded after Evergrande | Domino effect | Evergrande | Hong Kong stocks | Kaisa Group | Suspension | Real estate company | Kaisa | Crisis | Financing | Dilemma

The domino effect?Another real estate company exploded after Evergrande | Domino effect | Evergrande | Hong Kong stocks | Kaisa Group | Suspension | Real estate company | Kaisa | Crisis | Financing | Dilemma

by admin

[Voice of Hope November 6, 2021](Reported by reporter Li Yuan, Voice of Hope)

After Evergrande, another large-scale real estate developer in China, Kaisa, “exploded.” According to expert analysis, once the real estate explodes completely, a domino effect will be formed. Will have a great impact on China.

Before the opening of Hong Kong stocks on November 5, Kaisa Group announced on the Hong Kong Stock Exchange to suspend trading, and its four companies also suspended trading at the same time. Kaisa, a real estate company known as the “King of Old Reforms,” ​​is also experiencing difficulties such as payment crisis, overdue financial products, and financing difficulties.

On November 4, nearly a thousand investors from Kaisa’s affiliated company “Jinheng Fortune” poured into a conference room of Kaisa’s Shenzhen headquarters to negotiate with the company’s president Mai Fan. Because the wealth management products issued by “Jin Heng Wealth” and guaranteed by Kaisa Group were overdue for redemption.

Kaisa is another company after many Chinese real estate giants suffered a debt crisis.

According to Wind data, 14 real estate companies and 19 US dollar bonds will mature this year, with a maturity of US$3.704 billion, of which Kaisa’s US$400 million debt will mature on December 7. In addition, Kaisa still has US$2.705 billion in bonds that will mature next year.

Taiwanese financial expert Huang Shicong analyzed the Epoch Times: “The impact of Kaisa may not be as huge as Evergrande. But Evergrande is the first domino and will continue to fall.” “The total debt of (China) real estate. It may be as high as five trillion US dollars. Once the real estate explodes, a domino effect will be formed. That will have a great impact on China.”

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Many of China’s private enterprise giants are considered to be backing the CCP’s dignitaries.

The founder of Kaisa, Guo Yingcheng, is rumored to have close ties with Jiang Zemin’s nephew, Wang Rong, secretary of the Shenzhen Municipal Party Committee, and Huang Liman, the former Secretary of the Shenzhen Municipal Party Committee accused of being Jiang Zemin’s mistress. Xu Jiayin, the founder of Evergrande, is accused of having a close relationship with the Zeng Qinghong family.

Xie Tian, ​​a professor at the Aiken School of Business at the University of South Carolina, said that Kaisa, or Fantasia, Evergrande, and all these real estate companies that have been involved are behind the powerful families of different factions of the CCP. Xi Jinping’s current approach is likely to want to weaken the wealth of certain families. This has something to do with infighting. Before the 20th National Congress of the Communist Party of China, Xi Jinping must clear all obstacles.

Editor in charge: Lin Li

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