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China’s Largest Real Estate Developers Face Financing Crunch; 76 of the biggest real estate developers need to repay $367 trillion in the next 12 months, including $25.69 trillion in interest
Epoch Times ^
| 09/28/2020
| Nicole Hao
Posted on 09/28/2020 8:59:22 PM PDT by SeekAndFind
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To: SeekAndFind
To: SeekAndFind
'A new study on Chinas real estate market reported by state media paints a bleak picture: 76 of the biggest real estate developers need to repay
2,500 trillion yuan ($367 trillion) in the next 12 months, including
177 trillion yuan ($25.69 trillion) in interest.'
3
posted on
09/28/2020 9:08:57 PM PDT
by
Theoria
(I should never have surrendered. I should have fought until I was the last man alive)
To: SeekAndFind
If this is indicative of China’s finances in general, they are in a very precarious place. That said, this makes China an even bigger threat, as their political ‘leadership’ will not just go quietly into the night.
To: SeekAndFind
Boy.
Working at even NYC’s minimum wage of $15 an hour, it would take 24,466,666,666,666.7 hours work to pay this off.
That’s gotta be at least a few double shifts.
5
posted on
09/28/2020 9:09:53 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: SeekAndFind
The world economy will feel this, IMO.
6
posted on
09/28/2020 9:10:37 PM PDT
by
laplata
(The Left/Progressives have diseased minds.)
To: laplata
Dont have money in Chinese currency.
7
posted on
09/28/2020 9:30:20 PM PDT
by
ConservativeMind
(Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
To: laplata
I am in no position to challenge the numbers shown here, but I’ve looked for about a half hour and see No financial site coming even close to these numbers.
hundreds of billions for Evergrande, yes.
But China’s whole economy is worth 40 trillion.
3/10 of a Quadrillion dollars?
Would love to find one other site to back those numbers up.
8
posted on
09/28/2020 9:31:04 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: neverevergiveup; SeekAndFind
The entire world’s GDP is 80 trillion.
I looked and could not find another site coming even remotely close to these numbers.
Evergrande owes over 100 billion, seems to be the consensus.
If it says 367 trillion here, then I guess it is.
Would have liked to confirm that somewhere though
9
posted on
09/28/2020 9:34:23 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: SeekAndFind
the numbers do not make sense
10
posted on
09/28/2020 9:36:52 PM PDT
by
RockyTx
To: SeekAndFind; laplata; neverevergiveup; Theoria
IT’S 2.5 TRILLION YUAN
THE 2,500 TRILLION YUAN NUMBER IN THE ARTICLE IS A MISTAKE.
I WENT TO THE CHINESE WEBSITE.
11
posted on
09/28/2020 9:37:23 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: RockyTx
Because they’re wrong.
2.5 trillion yuan
not 2,500 trillion yuan.
went to the original site
12
posted on
09/28/2020 9:38:05 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: dp0622
RE: I WENT TO THE CHINESE WEBSITE.
Can you share the website for us? Thanks.
To: dp0622
RE: ITS 2.5 TRILLION YUAN
Yes, that looks more like the real number. Converting it to USD amounts to about $357 Billion — Still, an astronomical number !!
To: SeekAndFind
Fourth paragraph down...where it says..
A second study, conducted...
Click on the STUDY link and convert that site to English.
Please double check me.
I don’t trust myself that much :)
15
posted on
09/28/2020 9:40:21 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: SeekAndFind
Staggering number.
From what I read, some of these companies are in a lot of trouble and they experts said they cannot meet the debt cutting goals they have put forth.
Now that’s a bubble!
16
posted on
09/28/2020 9:42:02 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: SeekAndFind
Yet MANY Chinese are chasing the real estate prices.
That’s scarier.
17
posted on
09/28/2020 9:42:50 PM PDT
by
dp0622
(I DON'T KNOW WHAT TO DO ABO UT THE COVID GODFATHER, I DON'T KNOW WHAT TO DO. YOU CAN ACT LIKE A MAN!)
To: dp0622
18
posted on
09/28/2020 9:45:49 PM PDT
by
laplata
(The Left/Progressives have diseased minds.)
To: ConservativeMind
19
posted on
09/28/2020 9:46:34 PM PDT
by
laplata
(The Left/Progressives have diseased minds.)
To: dp0622
RE: Fourth paragraph down...where it says..
A second study, conducted... Click on the STUDY link and convert that site to English. Please double check me.
That website has only a few paragraphs and does not mention the total debt of these real estate companies. It only mentions 307 domestic and overseas bond financings, with a financing scale of approximately 324.7 billion yuan, an increase of 14% year-on-year.
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