Written by Potato
Proofread by April on Earth
According to a report from Sina on Oct 1, 2021, CFLD（ China Fortune Land Development) which owes nearly 220 billion Yuan in debt, is finally to plan to pay back the money. Meanwhile, CFLD will resume trading in the stock market on October 8, 2021.
CFLD has hit a rough patch in early 2021, with several of the company’s bonds falling and the company’s credit rating being downgraded. Wang Wenxue, chairman of CFLD and the former richest man in Hebei Province, admitted that the company is in a difficult financial situation.
Ping An Insurance is the major shareholder of the top 10 shareholders of CFLD. The crisis of CFLD has also drawn the attention of the outside world. Under the guidance and support of the local government, the company has initially drafted a debt restructuring plan.
CFLD seems to save itself by selling some assets, but some experts said that in the short term, CFLD still needs the support of bank credit and strategic investors to resolve the debt risk.
Miles Guo used to mention in his live broadcast that Xi Jinping-supported “Xiong’an Master Plan ” is the largest real estate project of “CFLD” and nearly 40% of its land is owned by a real estate subsidiary company of CFLD. Ma Mingzhe or Peter Ma (The boss of Ping An Insurance ) has invested a lot in CFLD, while the real investment is in Xi Jinping. However he didn’t expect to go bankrupt, where did all the money go? The Zeng (Zeng Qinghong)’s family has already transferred the money overseas.
So the above-mentioned debt plan is just a lie and the CCP just wants to defer the payment and stabilize the situation by using more new debts to pay off old ones. However, the money from Chinese investors has already been sucked by the evil CCP kleptocratic families!