Evergrande Group, although regarded by many as a national enterprise, is actually a foreign-funded enterprise. Evergrande, registered in the Cayman Islands, is controlled by Xinxin, a foreign-funded enterprise, which in turn is a Virgin Islands enterprise owned by Xu Jiayin. Although Evergrande has a large number of subsidiaries in China, more than 95% of its business is concentrated in China. With such a background, one can't help but wonder why many companies end up labeling "foreign capital".
In fact, this phenomenon may be to leave a way for the business to survive at the last minute. Under the pressure of Evergrande's huge debt, the state has given a certain window of time for Evergrande to save itself. However, Xu Jiayin did not cherish this opportunity, but actively transferred assets and filed for US bankruptcy protection in an attempt to evade debt recovery. This has also led to the dilemma faced by Evergrande today.
Evergrande Group is facing 2A huge debt of 4 trillion and cannot be repaid. Many owners who have bought Evergrande properties are also in trouble, they have already paid for the purchase of the house, but the delivery period of the house has been repeatedly extended, and even become an indefinite project.
While Evergrande executives are paying huge dividends, there are still more than 1.5 million owners who are in turmoil. This unfairness is infuriating, and Evergrande executives have neglected their responsibilities and commitments to homebuyers in their own wealth accumulation. This has also attracted the attention and investigation of the state.
The state has been tracking and investigating Evergrande and Xu Jiayin's alleged transfer of property, and will take substantive action. Now, Xu Jiayin's father and son have been arrested, which shows that the country's characterization of them has been basically determined. Justice will eventually be served, and whoever owes a huge debt and tries to get out of it by moving assets and evading responsibility will eventually face legal sanctions.
On the Internet, some people always follow the direction of the wind. At the beginning, some well-known big Vs tried to exonerate Xu Jiayin, but now they have turned around and accused Xu Jiayin of being a national sinner. This change is worth pondering, and perhaps the country's characterization of Xu Jiayin has already begun. The investigation of Evergrande executives and the arrest of Xu Jiayin and his son have sent a strong signal: no matter who you are, if you dare to repay your debts, transfer assets and leave the mess to the country and the people to bear, then you will be punished by law.
Evergrande's thunderstorm is a warning to the largest real estate companies that if they don't take practical action to "set an example", more companies may follow Evergrande's example in the future, bringing greater risks to the country's economy.
As a foreign-funded enterprise, Evergrande Group is regarded by many people as a national enterprise, and this misunderstanding has made people have more expectations for it. However, Evergrande's actions have exposed its irresponsible and illegal nature. The state has launched an investigation into Evergrande and taken substantive action to hold it accountable. For the country and the people, whether it is a foreign-funded enterprise or a national enterprise, they must assume their social responsibilities, fulfill their commitments, and operate fairly and justly.
As ordinary people, we must not be deceived by appearances, and we must be more rational about the behavior of enterprises and the truth behind them. We should support the state's investigative actions and contribute to the protection of consumer rights and the maintenance of social fairness and justice. Only in this way can our society develop in a more just and orderly manner.