Kunpeng Project
Evergrande was demanded by the United States after its liquidation
On January 29, there were rumors that Evergrande had been declared bankrupt by a Hong Kong court. Later, China Evergrande, which is in the Hong Kong ** market, also issued a statement confirming the news.
According to the statement, the Hong Kong High Court issued a liquidation order on January 29, 214, whereby two employees of Ammann Consulting*** will take over Evergrande's assets and liabilities and will suspend the company's share price.
It has been nearly ten days since the bankruptcy was confirmed, how is the bankruptcy process progressing? Although there is no official information, there are many exaggerated rumors circulating on the Internet, the most outrageous is that the United States wants to collect debts, and the Bank of China, one of the four major banks in China, once mortgaged Evergrande, but Evergrande went bankrupt, and they had to take out their foreign exchange reserves to repay the debt.
This rumor has long been circulating on the Internet, but it was only when Evergrande announced bankruptcy that it was hyped up. What are the facts? I will divide this question into two parts, one is whether the United States will come to collect the debt, and the other is whether the Bank of China will pay for Evergrande's debt.
The Americans are going to give you a sum of money? There is a small percentage that is true, but not entirely true.
Evergrande's liabilities include domestic liabilities and foreign liabilities, of which domestic liabilities are the most, followed by bank loans, commercial loans, and commercial housing under construction, which have a lot. Foreign liabilities are significantly smaller, about 20 billion yuan, or 145 billion yuan, according to Evergrande's performance.
Evergrande's total debt reached 24 trillion yuan, more than 100 billion US dollars of debt is nothing at all, why did Evergrande "collapse" like this? Evergrande's current top priority is to "ensure the delivery of the building", the money on hand has been spent, as long as there can be 100 billion, it will definitely be invested in the construction of the building as soon as possible. They don't have the money, they don't have enough money, and they don't have enough money to meet the demands of foreign creditors.
14 Five billion yuan of huge liabilities, does the United States be included? There is a high probability that there is, but this is not borne by the United States**, but by an investor, institution or other individual from the United States.
The British, the French, the Japanese, the Americans will all ask for Evergrande, of course, there will be Chinese, Evergrande's Xu Jiayin, and there are many people in his circle of Hong Kong tycoons. No matter who you are, no matter who you are, no matter where you live in **, you can borrow a sum of money from Evergrande, even if Evergrande is not bankrupt, you can also come to collect debts, no matter who you are, no matter what you are in**.
Those who claim that the United States wants money from Evergrande want to make everyone think that this matter has nothing to do with the United States, so that they can elevate the business contradictions to the competition between China and the United States, so as to attract people's attention. In fact, this matter has nothing to do with the United States, the bonds of Chinese real estate companies, Americans will not buy them, because that thing is not popular abroad, only China's ** can buy it.
Moreover, the United States itself has a debt of $34 trillion. As soon as the debt limit was mentioned, the two parties began to quarrel, and there was simply no extra money to squander.
Due to the lack of suitable collateral, the interest rate on Evergrande's yuan bonds is very high.
The second question is a perplexing one, and one might well think that this is a person who knows a little about the economy.
The big four banks of the past are completely different from the big four banks today, and everyone has their own responsibilities, which can be seen from the name. ABC focuses on agriculture and farmers, CCB focuses on infrastructure investment, ICBC focuses on business, and Bank of China has a wider range of overseas operations, including foreign loans, foreign exchange, foreign exchange, foreign exchange, etc., so guaranteeing Evergrande's US dollar debt to Bank of China seems more "real" and more commonsense.
But no matter how justified he is, if it does not correspond to reality, it is nonsense.
At present, there are dozens of overseas listed real estate companies, including Evergrande, Country Garden, Vanke, Greenland, and many real estate companies that you have never heard of. In addition, companies in other sectors have raised funds overseas, including the Industrial and Commercial Bank of China, the world's largest commercial bank, and Huawei, China's proudest high-tech company. Do so many companies' dollar bonds need to be guaranteed by domestic banks? Among other things, they don't have enough foreign exchange reserves to use as collateral.
At the same time, the buyers of Evergrande bonds are also people from all over the world, and many of them are ordinary people. Yes, most people can buy US dollar bonds, I know a guy who opened an account in Hong Kong and then bought a real estate tycoon's US dollar bonds. Why are they lending to Evergrande and other property developers?
Only a small part, and it pays a lot of interest. Evergrande currently holds all yuan bonds, with interest rates of at least 7%, and the highest even exceeding 13%, compared with ICBC and Huawei's bonds, which have an annual interest of 4%, which is too different.
Why add four percent? Why add 13 percent? Are there many people in Evergrande who are stupid? The answer is no, the main thing is that Evergrande's bonds are not very creditworthy, the risk is high, and it can only rely on high interest rates to attract investors.
Evergrande's dollar debt is indeed guaranteed, but it does not come from domestic banks, but Evergrande itself. Evergrande's provision of financing to China Evergrande in the name of its overseas subsidiaries or its controlled subsidiaries is tantamount to a disguised self-guarantee.
As long as anyone with a little brain can see that these so-called "riot operations" are just a formality, and the real guarantee effect is minimal. With the guarantee of a first-class financial institution like Bank of China, Evergrande's bond yield is likely to not exceed 4%. You know, this is a lucrative deal, the United States has not raised interest rates in the past few years, and now **, as long as it rises to 3%, it is sky-high.
By the end of 2023, our country's foreign exchange reserves will be as high as 328 trillion, the largest country in the world. This is our country and the people's efforts for decades, will not be easily wasted, therefore, the domestic banks do not provide loans to private real estate companies, if you must guarantee, that is to provide funds for some significant projects, obviously, only the best enterprises are eligible to participate.
This is just my own opinion, please pay more attention, like, your attention is the biggest encouragement for my creation!