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  1. #176
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    david44's Avatar
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    Sum dim time t chop stewey and elect a a term bound leader r so called capitalist/communist China is just Xi's empire. Which begs the succesion question like the death of Stalin, the longer he stays the worse it gets. He's get a tough call default on foreigners and they won't forget or siht on your doorstep, at least he don't have to worry about mid term, medium term or an elections?

  2. #177
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by david44 View Post
    he don't have to worry about mid term, medium term or an elections?
    A 5-year appointment, I believe, the voters get to decide on any extension.

  3. #178
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by OhOh View Post
    A 5-year appointment, I believe, the voters get to decide on any extension.
    The voters!

    The next post may be brought to you by my little bitch Spamdreth

  4. #179
    Thailand Expat OhOh's Avatar
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    I aim to amuse.

  5. #180
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    panama hat's Avatar
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    Quote Originally Posted by OhOh View Post
    A 5-year appointment, I believe, the voters get to decide on any extension.

  6. #181
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by OhOh View Post
    I aim to amuse.
    Oh you fucking do that alright, even if not intentionally.


  7. #182
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    Quote Originally Posted by OhOh View Post
    the voters
    A stoater are you ok, or under 5?


  8. #183
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by david44 View Post
    A stoater
    stoater. 1. Anything that is exceptional in quality.

    Urban Dictionary: stoater

    Whatever floats your boat.

  9. #184
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    Quote Originally Posted by OhOh View Post
    stoater. 1. Anything that is exceptional in quality.
    . . . very few things 'Made in China'.


    Quote Originally Posted by OhOh View Post
    Whatever floats your boat.
    Yes, also technology stolen from the 'west'.

  10. #185
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    An imal magic

    Quote Originally Posted by OhOh View Post
    Whatever floats your boat
    Buoyancy or if all else flails Boy Nancy during the hippy hour?

    I am delighted to expand TD vocabulary , ermine clear enough about these furry fellows?

    A weasel is weasily recognized
    while a ferret is ferretly obvious but a
    A stoat is stoatally different

    MaoHao Tongzhi

    As to mrs Bananaman Hut's mendacious assertions



    Quote Originally Posted by panama hat View Post
    Yes, also technology stolen from the 'west'.
    He velly confused they only borrow , it's PATENTLY oblivious. He spend too long with Alice Klar in der farterland

    Mei Guanxi we old ones will be gone before our social credit chastity belt is tightened by PRC central fun control. Enjoy your cock tales it's teh happy hour now, just before the tish hits teh fan, I'm shorting my small hole dings.

    Seriously I am unqualified or licenced to give investment advice other than Kwai Knot.
    Last edited by david44; 08-12-2021 at 05:04 PM.

  11. #186
    Guest Member S Landreth's Avatar
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    Fitch downgrades Evergrande Group, units to 'restricted default'

    Fitch Ratings said on Thursday it had downgraded homebuilder China Evergrande Group and its subsidiaries, Hengda Real Estate Group Co, Ltd and Tianji Holding Ltd to 'RD' (Restricted Default), from 'C'.

    The downgrade reflects the non-payment of coupons due on Nov. 6 for Tianji's $645 million 13% bonds and $590 million 13.75% bonds after the grace period lapsed on Dec.6, the ratings agency said in a statement.
    Keep your friends close and your enemies closer.

  12. #187
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    Xi will be happy

    China: Evergrande suspends shares in Hong Kong as firm tries to raise cash

    Crisis-hit Chinese real estate giant Evergrande has suspended trade in its shares in Hong Kong as investors await news on its restructuring plan.


    The statement to the stock exchange did not give a reason for the trading halt.


    Evergrande has more than $300bn (£222bn) of debts and is scrambling to raise cash by selling assets and shares to repay suppliers and creditors.


    Last week, the company dialled back plans to repay investors in its wealth management products.


    Evergrande said on Friday that each investor in its wealth management product could expect to receive $1,257 each month as principal payment for three months irrespective of when the investment matures.


    The company had earlier not mentioned any amount and had agreed to repay 10% of the investment by the end of the month when the product matures.


    Evergrande said in a statement posted on the wealth unit's website that the situation was not "ideal" and that it would "actively raise funds", and update the repayment plan in late March, without giving further details.


    The announcement was seen as highlighting the deepening cash squeeze at the struggling property developer.


    Last week, Evergrande did not make some interest payments on its offshore bonds.


    Over the weekend, local media reported that a city government on the Chinese resort island of Hainan had ordered the company on 30 December to demolish its 39 residential buildings there within 10 days, as they were built illegally.


    Evergrande has yet to comment on the reports.


    The company's $19bn in international bonds were deemed to be in default by rating agencies after it missed a payment deadline last month.


    Evergrande suspended its shares in early October, saying the move was ahead of "an announcement containing inside information about a major transaction".


    There were reports at the time that rival real estate firm Hopson Development was set to buy a 51% stake in its property services unit.


    However, later that month Evergrande said the $2.6bn (£1.9bn) deal had fallen through as they were unable to agree on the terms of a deal.


    Evergrande's shares lost almost 90% of their value last year as investors became increasingly concerned about its future.

    more: https://www.bbc.com/news/business-59855881

  13. #188
    Guest Member S Landreth's Avatar
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    Evergrande shares suspended after report it was told to destroy buildings

    Trading of Evergrande Group shares was suspended in Hong Kong on Monday, days after Chinese media reported that the indebted property developer would be forced to demolish a residential development in the southern province of Hainan.

    The company, which has been at the centre of a sector-wide crisis in the country for months, disclosed in a filing to the Hong Kong stock exchange that the halt was “pending the release . . . of an announcement containing inside information”. The company did not add further details.

    Evergrande missed a series of bond payments from September but had previously transferred the money owed before the 30-day grace periods ended. It was formally declared to have defaulted on its debts in December by rating agency Fitch after it failed to transfer funds due at the end of one such grace period.

    The company, which has come to embody the vast debts of China’s property sector, has more than $300bn of liabilities and is in the early stages of a drawn-out and politically sensitive restructuring process. Both the government and investors have focused on its ability to maintain its hundreds of projects.

    Evergrande said in a social media post on December 26 that work had resumed at 92 per cent of its projects, compared with about half in September, when its crisis sent shockwaves across global markets.

    Hui Ka Yan, its billionaire chair, said in the same post that the company was in “extremely difficult circumstances” and the aim was to deliver properties to owners. Many real estate developers in China, including Evergrande, sell apartments to buyers before they are completed.

    Over the weekend, Cailian, a Chinese media outlet, reported that Evergrande had been ordered to demolish 39 buildings within 10 days because its planning permit was obtained illegally and had been revoked. The article cited a document allegedly from local authorities in Danzhou, a city in the north-west of the island province.

  14. #189
    Thailand Expat VocalNeal's Avatar
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    Quote Originally Posted by S Landreth View Post
    Many real estate developers in China, including Evergrande, sell apartments to buyers before they are completed.
    That is novel? Here they sell them before they even start

  15. #190
    Thailand Expat harrybarracuda's Avatar
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    Can we merge this with the Evergrande thread? They're the same thing.

  16. #191
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    Quote Originally Posted by S Landreth View Post
    Chinese media reported that the indebted property developer would be forced to demolish a residential development in the southern province of Hainan.
    Seems a bit radical.

  17. #192
    Guest Member S Landreth's Avatar
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    Evergrande's crisis continues: $2 billion seized by banks, earnings delayed

    Banks have seized $2 billion in cash from Evergrande, the ailing Chinese real estate developer said Tuesday as it announced a delay to the publication of its annual earnings.

    Evergrande said that it won't be able to meet the March 31 deadline for publishing audited results for 2021, a year which saw it default on its debts as prices and activity in China's vast real estate sector slumped.

    One of its units — Evergrande Property Services — said some of its lenders had unexpectedly claimed around 13.4 billion yuan ($2.1 billion) of its bank deposits that were pledged as collateral for "third party guarantees."

    It didn't specify who the lenders were, saying only that the banks had taken control of the cash. The property services unit said it would establish an independent committee to investigate.

    The real estate developer is one of China's largest and its most indebted with more than $300 billion of total liabilities, including about $19 billion outstanding offshore bonds held by international asset managers and private banks on behalf of their clients.

    Evergrande was declared by Fitch Ratings to be in default in December — a downgrade that the ratings agency said reflected the company's inability to pay interest due on two dollar-denominated bonds.

    In 2020, Beijing started cracking down on excessive borrowing by developers in a bid to rein in their high leverage and curb runaway housing prices. But the sector's problems escalated significantly last fall when Evergrande began warning the markets urgently of liquidity problems.

    There's evidence now that the Chinese government is taking a leading role in guiding Evergrande through a restructuring of its debt and sprawling business operations.

    But some of the company's international creditors have been losing patience.

    A group of overseas bondholders threatened in January to take legal action over the "opaque" debt restructuring process. They said they would "seriously consider enforcement actions" after Evergrande failed to engage substantially with them about reorganizing its operations.

    Evergrande has another interest payment due on Wednesday.

    The company said in its exchange filing that "audit work has not yet been completed," and "drastic changes" in the operational environment and the Covid-19 pandemic had led to delays in preparing its earnings. It will publish them "as soon as practicable" after the audit has been completed, it said.

    Other major developers are also having trouble meeting the March 31 deadline for earnings.

    Sunac China and Shimao China, which ranked No. 3 and No. 12 in property sales last year, said Monday that they would also have to delay publishing their annual results. Both cited Covid-related restrictions, such as quarantines and travel restrictions, for holding up the audit process.

    Ronshine China, which was among the top 30 developers last year, also said it won't be able to file audited results by March 31 as its original auditor had resigned, according to an exchange filing by the company on Monday. Ronshine China said later that day it has hired a new auditor and will publish audited results "as soon as practicable."

    Other major developers are also having trouble meeting the March 31 deadline for earnings.




    China Evergrande and Its Units Suspend Trading in Hong Kong

    China property developers, Evergrande, can't release earnings on time



  18. #193
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    Ah, the Chinese idea of 'honesty' is unravelling.


    There's something foul in Beijing and it isn't herring . . . crumbling slowly but surely.


  19. #194
    Thailand Expat David48atTD's Avatar
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    So, how did it end up?


  20. #195
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    Not good . . . the economy will implode whe Beijing runs out of the domino-bankruptcies

  21. #196
    Thailand Expat harrybarracuda's Avatar
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    And to think the four wanketeers are always telling us how good the chinky economy is.

    *titter*

  22. #197
    Thailand Expat David48atTD's Avatar
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    Sunac China Holdings Ltd., the country's fourth-largest developer, failed to pay a dollar-bond coupon before a Wednesday deadline.

    And the company said it doesn't expect to make payments on other notes.


  23. #198
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    Saw this earlier today...definitely some issues in China.

    For some reason it is displaying "Are you a robot?" for me. But it is about the US outpacing China in growth now.

    Bloomberg - Are you a robot?
    Last edited by TTraveler; 20-05-2022 at 09:33 PM. Reason: link displayed wierd

  24. #199
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by David48atTD View Post
    failed to pay a dollar-bond coupon
    Quote Originally Posted by David48atTD View Post
    And the company said it doesn't expect to make payments on other notes.
    It appears that the company may not recognise debt to an "unfriendly country".

    I wonder who started this financial merry-go-round.

    Quote Originally Posted by TTraveler View Post
    But it is about the US outpacing China in growth now.
    No, it is an opinion piece published, behind a pay wall.

    "China’s coronavirus lockdowns mean its economic growth may undershoot the US for the first time since 1976, in a role reversal with potential political reverberations in both Beijing and Washington.'

    Bloomberg - Are you a robot?

    As with many of Bloomburg's articles, some are right, most are wrong. Some bet on its opinions, some don't. It keeps suckers amused, some make a profit and others lose their shirts. Capitalism at its finest.

    Non-suable "information", NaGastan to a tee.
    A tray full of GOLD is not worth a moment in time.

  25. #200
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    Why not stick to the topic - it's about China, try it.



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