The crisis of Evergrande Group has uncovered a series of secrets behind the enterprise. Xu Jiayin, who used to be infinitely beautiful, is now facing the dilemma of investigation and even **, this change is full of emotion. With the in-depth development of the Evergrande incident, Xu Jiayin and his son, together with Evergrande's executives, have also become the targets of investigation.
For a long time, Evergrande has been widely regarded as China's national enterprise, and Xu Jiayin has also been praised as a "national entrepreneur". However, as events unfolded, it became clear that Evergrande's true identity was actually a foreign-owned company. Although Evergrande has subsidiaries in Chinese mainland and Hong Kong, and more than 95% of its business is concentrated in China, its core domicile is not in China.
Evergrande Group is registered in the Cayman Islands, known as a "tax haven", while its listing is in Hong Kong, China. More importantly, the investment company that holds the largest stake in China Evergrande is also a foreign-funded enterprise called Xinxin Enterprise, registered in the Virgin Islands. The ultimate controller of Xinxin Enterprise is Xu Jiayin himself, who holds 7085% equity.
In addition, Evergrande has registered a number of foreign subsidiaries overseas, although their business focus is mainly domestic. Such a registration and operation model has triggered the public to think deeply about the identity of the enterprise. Many people are puzzled and confused by the fact that Evergrande and some other companies are classified as "foreign-funded enterprises". The reasons and motivations behind this model, as well as the impact on China's economy and market, have become the focus of public and professional attention.
The crisis of Evergrande Group has revealed the complex financial operation behind it. In the face of the imminent debt crisis, Xu Jiayin's actions have aroused widespread discussion and criticism. Although the state had given Evergrande enough time to adjust and salvage, Xu Jiayin did not seem to have taken advantage of the opportunity. Before the crisis, he was more engaged in the sale of assets, but these measures were considered superficial, and the essence of these measures was that a large amount of money had been transferred abroad.
At the same time as the outflow of funds, Xu Jiayin also paid large dividends with some senior executives of Evergrande, an act that caused a strong reaction among the public. What is even more concerning is that Xu Jiayin also went to the United States to file for bankruptcy protection, trying to evade domestic debt responsibilities. These actions ultimately led to his current predicament.
At the same time, Evergrande's huge debt has had a severe impact on more than 1.5 million homeowners. Most of these owners have already paid for their purchases, but they are facing the problem of unfinished properties that have not yet been delivered. Evergrande faced a whopping 2With a debt of 4 trillion yuan, it is clear that it is no longer able to solve these problems. Although the state had given Evergrande the opportunity to save itself, Xu Jiayin did not cherish this opportunity, but accelerated the outflow of assets and tried to seek bankruptcy protection in the United States.
As a result, domestic creditors may need to pursue legal means, or even litigation in the United States, in order to recover their debts. This is one of the reasons why Xu Jiayin is currently being criticized by the public. Today, Xu Jiayin has stood on the opposite side of most people, and his actions not only affect the future of Evergrande Group, but also touch the fairness, justice and legal responsibility of the society.
Changes in the network** often reflect the formation of a certain social consensus. In the Evergrande Group incident, some well-known Internet influencers who once defended Xu Jiayin have now changed their stance and begun to accuse Xu Jiayin of being a "national sinner". This shift may mean that the state has made a clear determination of Xu Jiayin and his actions.
According to relevant reports, the state has conducted a long-term follow-up investigation into the suspected transfer of assets by Evergrande Group and Xu Jiayin, and is ready to take specific measures. The arrest of Xu Jiayin's father and son is proof of this. Faced with such a serious problem, Evergrande only started to ** Xu Jiayin's private jets and yachts in the final stages of the incident, trying to cope with the huge debt, but these measures are obviously a drop in the bucket and cannot solve the fundamental problem.
Evergrande executives have been investigated one after another, Xu Jiayin and his son**, which has released a clear signal: no matter what the identity, as long as it involves financial violations and evading debt responsibilities, it will eventually face legal sanctions. In China, Evergrande's debt crisis is the first case involving a large real estate company, and the measures taken by the state are undoubtedly intended to serve as a warning to prevent other companies from following suit.
As early as 2021, entrepreneur Cao Dewang mentioned Evergrande's problems. He pointed out how Evergrande used 80 billion asset loans to reach a scale of 2 trillion yuan, which has long aroused his alarm. Looking back now, Evergrande's crisis seems to have been a well-designed mega-***, which not only dealt a devastating blow to Evergrande itself, but also brought a major impact on China's real estate market and financial system.
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