[EpochTimesAugust192021]On August 17, the news that Xu Jiayin stepped down as chairman of Evergrande Real Estate Group shocked the business community. According to reports, industrial and commercial information shows that Evergrande Group made relevant changes in industrial and commercial registration that day. The chairman of the board was changed from Xu Jiayin to Zhao Changlong. The general manager and legal person also changed from Ke Peng to Zhao Changlong. Ke Peng remained the president of the real estate group.
Although the news reported that this change was a normal change after the termination of the A-shares of Backdoor Deep Real Estate, and did not involve changes in the specific management structure or equity, when Ma Yun was exposed in 2018 when it was revealed that Jack Ma gave up Alibaba’s actual control, Ali responded that ” No equity involved”, until Ma Yun’s retirement in 2019, until this year Alibaba was fined 18.2 billion yuan, Ma Yun was taken away for investigation, Xu Jiayin’s resignation may not be so simple, whether he will follow Ma Yun’s footsteps, it is also very Worthy of attention.
In fact, since last year the CCP authorities issued the “three red lines” against real estate companies, many real estate companies have experienced thunderstorms, and Evergrande, the third largest in the industry, has also been exposed to a debt crisis. Evergrande’s 2020 report shows that by the end of 2020, the total debt is 716.5 billion yuan (approximately US$107.5 billion), and the annual interest is as high as 68 billion yuan (approximately US$10.2 billion). Although with the support of the top leaders of the Chinese Communist Party, Evergrande has made various efforts and stated in July this year that as of the end of June, Evergrande’s net debt ratio has fallen below 100%, and it has successfully achieved the first line of the “three red lines”. Turning green, and Xu Jiayin also boarded the Tiananmen Gate Tower on July 1st, but Evergrande’s crisis has not really been resolved.
The Evergrande crisis is naturally inseparable from the founder Xu Jiayin. Many people know that Xu Jiayin’s name originated from Guangzhou Evergrande Football Club. Since he bought the club in 2010, he did not hesitate to spend a lot of money to introduce foreign aid, and won the 2013 AFC Champions League, which made Chinese fans excited. According to rumours, Xu Jiayin’s investment in football is mainly to cater to the highest level in Beijing, who loves football, in addition to his hobbies.
Obviously, the main business of Evergrande Group is real estate. Public information shows that since June 2015, Evergrande Real Estate has spent more than RMB 60 billion to acquire a total of 14 projects and two pieces of land from Hong Kong companies such as Chinese Land, Zhongyu Land, and New World. At the end of 2015, Xu Jiayin even acquired the New World Group, a subsidiary of the Hong Kong tycoon Zheng Yutong’s family, with a large sum of 33.9 billion.
In early 2017, shortly after Xiao Jianhua, the head of Tomorrow’s department, was exposed to the investigation, Hong Kong media reported that Xu Jiayin had been included in the new wave of anti-corruption investigations. The reason was that Evergrande and Tomorrow had intersections, and Xiao Jianhua He and Xu Jiayin are both directors of the “Hong Kong Federation of Cultural Industries (Literature and Literary Federation)”, a rich club established in December 2014. The activities of the rich in the club are not only to strengthen the relationship with each other, but also to strengthen the cooperation in the business field.
And behind Xiao Jianhua is Zeng Qinghong, the No. 2 figure of the Jiang School. It is reported that when Zeng Qinghong’s son Zeng Wei swallowed Luneng Group, Shandong’s largest company with assets of 73.8 billion yuan, with more than RMB 3 billion in 2007, Xiao Jianhua was the investor, because several companies that acquired Luneng were all owned by Xiao Jianhua. Under the name.
In addition, Xiao Jianhua is said to be Zeng Qinghong’s core agent in Hong Kong. In addition to helping the Jiang faction launder money, he also performed political tasks, including his involvement in the election of Hong Kong’s chief executive. Xu Jiayin and Zeng Wei overlap in Australia, and his mansion in Australia once gave Zeng Wei a party. Not only that, those Hong Kong super-rich people who helped Xu Jiayin and supported China Evergrande’s listing in Hong Kong, such as Zheng Yutong, Liu Luanxiong, Zhang Songqiao, etc., have unusual relationships with the Zeng family.
However, for some reason, Xu Jiayin temporarily escaped in 2017, but in 2019, when Hong Kong’s rich man Li Ka-shing was severely criticized by the Chinese Communist Party media and Jack Ma was retired, news came out that he was accused of bordering, but afterwards Xu Jiayin A high-profile show of goodwill to Beijing, after which he spent another two years safely. However, not long ago, Bloomberg News reported that at the end of June, Xu Jiayin was interviewed by the Chinese Communist Party’s regulatory agency. Subsequently, Evergrande experienced the suspension of online signing transactions and the freezing of bank deposits of 132 million yuan in subsidiaries.
These bad news are connected with Xu Jiayin’s resignation as chairman, and people have to think about it. Can Xu Jiayin stay out of the matter this time?
As the head of Evergrande, who has become stronger and bigger by cooperating with the powerful and powerful of the CCP, Xu Jiayin will not be too clean. He should be very aware of the CCP’s shady scenes, and more or less, consciously or unconsciously, has been involved in the CCP factional struggle. , Even being used by the CCP to do things that shouldn’t be done. If the CCP wants to make a fuss about it and find out what to do with it, it’s not difficult to do.
Judging from the measures taken by the Beijing authorities this year to eliminate the Jiang faction in the financial sector in the face of huge domestic and foreign pressures, from the purge of Ant Financial and Didi Chuxing, which had the shadow of the Jiang faction’s elites, from the Chinese Communist authorities. In view of the continuous suppression of policies blocking the road to loan financing, Xu Jiayin and Evergrande’s future destiny is not optimistic, and the probability of being smashed and killed is very high.
The Epoch Times
Editor in charge: Putshan #
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