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29-01-2024, 12:38 PM | #1 | |||
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https://www.wsj.com/articles/evergra...ng-11633374710 [LU’AN, China—Rows of residential towers, some 26 stories high, stand unfinished in this provincial city about 350 miles west of Shanghai, their plastic tarps flapping in the wind.] On the above Link a photo of some of Evergrande's Buildings - Left Empty This had to be closed down in Hong Kong crazy waste of buildings and Massive Debt. [Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong. Judge Linda Chan said "Enough is enough" after the troubled developer repeatedly failed to come up with a plan to restructure its debts. The firm has been the poster child of China's real estate crisis with more than $300bn (£236bn) of debt. When Evergrande defaulted two years ago it sent shockwaves through global financial markets. Evergrande's executive director, Shawn Siu, described the decision as "regrettable", but said the company would continue to operate in mainland China. The firm's Hong Kong arm was independent from its mainland business, he added in a statement.] https://www.bbc.co.uk/news/business-67562522 Last edited by arista; 29-01-2024 at 12:39 PM. |
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