Evergrande Property Deal Abruptly Ends, CCP’s Real Estate Winter Has Just Begun

Translated by: MOS Translation Team – Lakers

On the evening of October 20, Hong Kong time, China Evergrande, Evergrande Property, and Hopson Development announced simultaneously that the transaction of transferring Evergrande Property’s equity to Hopson Development was terminated by China Evergrande, and the trading of the three companies’ shares would resume from October 21.

Previously, due to the outbreak of Evergrande Group’s debt crisis, its turnover in the peak season of property sales dropped significantly and its liquidity crisis intensified. Evergrande intended to rely on this transfer to solve the current crisis, but the plan was aborted. It is reported that in early November, Evergrande will have $277 million of debt interest payable due.

Although some top officials of the CCP expressed that Evergrande is just an isolated case and the crisis is manageable, the impact of Evergrande as the first domino that triggered the collapse of the CCP’s real estate has spread to other real estate companies.

As a matter of fact, most of the fake economy of the CCP comes from the real estate industry. As real estate companies continue to explode, the already fragile economy of the CCP will eventually collapse, which will surely lead to the accelerated demise of the CCP.

But Miles Guo has repeatedly warned in the livestreaming that the CCP’s real estate explosion has not only hit the financial and insurance sectors of the CCP, but also harvested the pensions and social retirement funds of developed countries such as the United States, Europe and Japan. Real estate industry is another economic tool used by the CCP to control Western countries.

Proofread by: Stay                                                          

Edited by: Stay                                                            

Posted by: Stay

Resource:https://gnews.org/zh-hans/1610953/

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