Breaking! The Richest boss of Property Giant Evergrande handcuffed and placed under house arrest by CCP Police!

[duluxe]

https://www.thehindubusinessline.co...under-police-surveillance/article67351641.ece

Highlights: China: the boss of the real estate giant Evergrande placed under house arrest. After the arrest of executives of the Chinese developer in mid-September, we learn this Wednesday, September 27, 2023 by the Bloomberg agency. Xu Jiayin had a fortune of nearly 43 billion euros in 2017. He has nothing left today, or almost nothing. A vertiginous fall in the image of that of the group which has led to a crisis never before seen on the Chinese real estate market.

China: the boss of the real estate giant Evergrande placed under house arrest​

The noose is tightening around Evergrande. After the arrest of executives of the Chinese developer in mid-September, we learn this Wednesday, September 27, 2023 by the Bloomberg agency, that the boss of the bankrupt real estate giant, is under house arrest.

An Evergrande sign is visible near residential buildings at an Evergrande residential complex in Beijing, China, September 27, 2023. © Florence Lo / Reuters

By: RFI Follow

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With our correspondent in Beijing, Stéphane Lagarde

China's richest former man, a member of the Chinese Communist Party and a former delegate of the Chinese People's Consultative Conference, is no longer free to move. Xu Jiayin had a fortune of nearly 43 billion euros in 2017. He has nothing left today, or almost nothing. A vertiginous fall in the image of that of the group which has led to a crisis never before seen on the Chinese real estate market.


Aged 64, Xu Jiayin, also known as Hui Ka Yan in Cantonese, was arrested earlier this month, according to Bloomberg sources. According to the Code of Criminal Procedure in China, house arrest can last six months, recalls the Cantonese channel TVB on Wednesday, September 27.

A colossal debt of 307 billion euros​

Identity card and passport confiscated, the former billionaire can not even take the train. This inquiry was followed by others. In mid-September, a police raid took place on Evergrande's financial branch in Shenzhen. Several dozen employees emerged handcuffed. Two former managers of the real estate giant, asphyxiated by a colossal debt of 307 billion euros, were also questioned by investigators, according to the business newspaper Caixin. A hearing of the group's creditors is scheduled for the end of next month, in court in Hong Kong.

 

[red amoeba]

when will we see the chief of GIC arrested for fraud?

 

[realDonaldTrump]

https://www.thehindubusinessline.co...under-police-surveillance/article67351641.ece

Highlights: China: the boss of the real estate giant Evergrande placed under house arrest. After the arrest of executives of the Chinese developer in mid-September, we learn this Wednesday, September 27, 2023 by the Bloomberg agency. Xu Jiayin had a fortune of nearly 43 billion euros in 2017. He has nothing left today, or almost nothing. A vertiginous fall in the image of that of the group which has led to a crisis never before seen on the Chinese real estate market.

China: the boss of the real estate giant Evergrande placed under house arrest​

The noose is tightening around Evergrande. After the arrest of executives of the Chinese developer in mid-September, we learn this Wednesday, September 27, 2023 by the Bloomberg agency, that the boss of the bankrupt real estate giant, is under house arrest.

An Evergrande sign is visible near residential buildings at an Evergrande residential complex in Beijing, China, September 27, 2023. © Florence Lo / Reuters

By: RFI Follow

Advertising

Read more

With our correspondent in Beijing, Stéphane Lagarde

China's richest former man, a member of the Chinese Communist Party and a former delegate of the Chinese People's Consultative Conference, is no longer free to move. Xu Jiayin had a fortune of nearly 43 billion euros in 2017. He has nothing left today, or almost nothing. A vertiginous fall in the image of that of the group which has led to a crisis never before seen on the Chinese real estate market.


Aged 64, Xu Jiayin, also known as Hui Ka Yan in Cantonese, was arrested earlier this month, according to Bloomberg sources. According to the Code of Criminal Procedure in China, house arrest can last six months, recalls the Cantonese channel TVB on Wednesday, September 27.

A colossal debt of 307 billion euros​

Identity card and passport confiscated, the former billionaire can not even take the train. This inquiry was followed by others. In mid-September, a police raid took place on Evergrande's financial branch in Shenzhen. Several dozen employees emerged handcuffed. Two former managers of the real estate giant, asphyxiated by a colossal debt of 307 billion euros, were also questioned by investigators, according to the business newspaper Caixin. A hearing of the group's creditors is scheduled for the end of next month, in court in Hong Kong.

Let's say china takes away the financial wealth of some of their rich corrupted businessmen, it should be enough to boost their country's financials, right?

 

[duluxe]

Let's say china takes away the financial wealth of some of their rich corrupted businessmen, it should be enough to boost their country's financials, right?

He 'divorced' his wife and very likely already diverted his $$ oversea.

 

[Tarkett]

Everything will be 万福金安 china government are good de woh

 

[Hypocrite-The]

Wat about the losses incurred by the ppl?

 

[ChinaCommunistSG]

It is common for businesses to go bankrupt but in China communist terrorist, bankrupted business men will be killed

 

[k1976]

He 'divorced' his wife and very likely already diverted his $$ oversea.

Treasure island huat big big hah

 

[k1976]

https://www.thehindubusinessline.co...under-police-surveillance/article67351641.ece

Highlights: China: the boss of the real estate giant Evergrande placed under house arrest. After the arrest of executives of the Chinese developer in mid-September, we learn this Wednesday, September 27, 2023 by the Bloomberg agency. Xu Jiayin had a fortune of nearly 43 billion euros in 2017. He has nothing left today, or almost nothing. A vertiginous fall in the image of that of the group which has led to a crisis never before seen on the Chinese real estate market.

China: the boss of the real estate giant Evergrande placed under house arrest​

The noose is tightening around Evergrande. After the arrest of executives of the Chinese developer in mid-September, we learn this Wednesday, September 27, 2023 by the Bloomberg agency, that the boss of the bankrupt real estate giant, is under house arrest.

An Evergrande sign is visible near residential buildings at an Evergrande residential complex in Beijing, China, September 27, 2023. © Florence Lo / Reuters

By: RFI Follow

Advertising

Read more

With our correspondent in Beijing, Stéphane Lagarde

China's richest former man, a member of the Chinese Communist Party and a former delegate of the Chinese People's Consultative Conference, is no longer free to move. Xu Jiayin had a fortune of nearly 43 billion euros in 2017. He has nothing left today, or almost nothing. A vertiginous fall in the image of that of the group which has led to a crisis never before seen on the Chinese real estate market.


Aged 64, Xu Jiayin, also known as Hui Ka Yan in Cantonese, was arrested earlier this month, according to Bloomberg sources. According to the Code of Criminal Procedure in China, house arrest can last six months, recalls the Cantonese channel TVB on Wednesday, September 27.

A colossal debt of 307 billion euros​

Identity card and passport confiscated, the former billionaire can not even take the train. This inquiry was followed by others. In mid-September, a police raid took place on Evergrande's financial branch in Shenzhen. Several dozen employees emerged handcuffed. Two former managers of the real estate giant, asphyxiated by a colossal debt of 307 billion euros, were also questioned by investigators, according to the business newspaper Caixin. A hearing of the group's creditors is scheduled for the end of next month, in court in Hong Kong.

Good move... No creditor will be able to go near him and ask for $$$$$$..…still can kick the can down the road

 

[k1976]

Everything will be 万福金安 china government are good de woh

臣请圣宫安

 

[Tarkett]

宝岛万岁 de woh! We china people are the best

 

[k1976]

Everything will be 万福金安 china government are good de woh

It will be the eternal evergreen huat la huat la boom

 

[Tarkett]

臣请圣宫安

Deleted

 

[k1976]

臣请圣宫安

https://zhuanlan.zhihu.com/p/136869970?utm_id=0

请安原是明代军礼中的一项，见于《大明会典》。当时全国各指挥使司、各卫所都有这个礼节，称为“屈一膝”。建州卫也如此，到了清代，在八旗和明朝遗留下来的绿营中仍然沿袭旧习。

本来，兵士见到上级军官应该下跪，但因为身上有盔甲，只屈一膝或半膝，久之，不穿盔甲时也以屈一膝为礼，并和叩首、打恭一样，含有问候请安的意思。

在八旗人家和部分汉族官宦人家，晚辈见长辈，平辈中幼见长，奴仆见主人至亲友相见，都行这个礼，所以屈一膝又叫请安。但在衙门或公共场所，则不论旗人汉人都行打恭礼，不能请安。

 

[millim6868]

Lol, tiongs cannot be trusted ,think many in sg tiongs got conned,lol,

 

[k1976]

Deleted

U must learn all Tiong culture and behaviour, else sinki is not their match

 

[syed putra]

He 'divorced' his wife and very likely already diverted his $$ oversea.

Its a severance for the wife lah! A farewell gift. He already knew his fate long ago.

 

[eatshitndie]

ccp gov is totally inept in addressing real estate crisis. this arrest does nothing but cause panic in the sector which accounts for 25% of the economy. instead, use this crisis which is self-inflicted as an opportunity for complete reform of the real estate sector. for sexample, as a 1st step forbid developers from collecting mortgage payments for homes not yet built. a less than 6.9% deposit may be ok to secure a purchase but not the entire amount thru’ shady mortgage financing and loans by developers who in the 1st place are not regulated and licensed bankers. full payment at completion of development and turning over of keys after walkthrough will incentivise developers to finish building homes faster and with reasonable quality. 2nd, increase standard ccp mandated 69-year lease (70 to be exact) on all residential properties to 99 or 150 to 199-year leases. this is a no brainer. tiong prospective buyers will feel more confident of their long term investments not only for gains but also in terms of security for at least one more generation, especially in a 150 to 199-year lease. 3rd, train a new generation of house appraisers and inspectors administered by local govs thru’ a stringent national standard building codes permitting and builders’ contractors’ licensing process. otherwise, homes in tianjin are like tofu while houses in guangdong are like mushrooms. bo cheng hu. anyhow build. tiongs will die in them for lack of proper foundation and structural integrity not counting leaks, lack of vapor barriers, shoddy plumbing, faulty electricals. 4th, financing. this one involves massive reforms in several sectors including various levels of local to national banks, shadow banks, insurance and financial firms. perhaps the last one is too messy and fucked up that ccp can’t do much as every ccp elite has their hands in the cookie jar.

 

[syed putra]

ccp gov is totally inept in addressing real estate crisis. this arrest does nothing but cause panic in the sector which accounts for 25% of the economy. instead, use this crisis which is self-inflicted as an opportunity for complete reform of the real estate sector. for sexample, as a 1st step forbid developers from collecting mortgage payments for homes not yet built. a less than 6.9% deposit may be ok to secure a purchase but not the entire amount thru’ shady mortgage financing and loans by developers who in the 1st place are not regulated and licensed bankers. full payment at completion of development and turning over of keys after walkthrough will incentivise developers to finish building homes faster and with reasonable quality. 2nd, increase standard ccp mandated 69-year lease (70 to be exact) on all residential properties to 99 or 150 to 199-year leases. this is a no brainer. tiong prospective buyers will feel more confident of their long term investments not only for gains but also in terms of security for at least one more generation, especially in a 150 to 199-year lease. 3rd, train a new generation of house appraisers and inspectors administered by local govs thru’ a stringent national standard building codes permitting and builders’ contractors’ licensing process. otherwise, homes in tianjin are like tofu while houses in guangdong are like mushrooms. bo cheng hu. anyhow build. tiongs will die in them for lack of proper foundation and structural integrity not counting leaks, lack of vapor barriers, shoddy plumbing, faulty electricals. 4th, financing. this one involves massive reforms in several sectors including various levels of local to national banks, shadow banks, insurance and financial firms. perhaps the last one is too messy and fucked up that ccp can’t do much as every ccp elite has their hands in the cookie jar.

You should replace xi jinping. Anyway, xi jinping hates businesses. He will probably use state to take over developer. Everything including EV soon be under state control.

 

[congo9]

ccp gov is totally inept in addressing real estate crisis. this arrest does nothing but cause panic in the sector which accounts for 25% of the economy. instead, use this crisis which is self-inflicted as an opportunity for complete reform of the real estate sector. for sexample, as a 1st step forbid developers from collecting mortgage payments for homes not yet built. a less than 6.9% deposit may be ok to secure a purchase but not the entire amount thru’ shady mortgage financing and loans by developers who in the 1st place are not regulated and licensed bankers. full payment at completion of development and turning over of keys after walkthrough will incentivise developers to finish building homes faster and with reasonable quality. 2nd, increase standard ccp mandated 69-year lease (70 to be exact) on all residential properties to 99 or 150 to 199-year leases. this is a no brainer. tiong prospective buyers will feel more confident of their long term investments not only for gains but also in terms of security for at least one more generation, especially in a 150 to 199-year lease. 3rd, train a new generation of house appraisers and inspectors administered by local govs thru’ a stringent national standard building codes permitting and builders’ contractors’ licensing process. otherwise, homes in tianjin are like tofu while houses in guangdong are like mushrooms. bo cheng hu. anyhow build. tiongs will die in them for lack of proper foundation and structural integrity not counting leaks, lack of vapor barriers, shoddy plumbing, faulty electricals. 4th, financing. this one involves massive reforms in several sectors including various levels of local to national banks, shadow banks, insurance and financial firms. perhaps the last one is too messy and fucked up that ccp can’t do much as every ccp elite has their hands in the cookie jar.

During this 40 years, The Tiong didn't create any value to their economy for all these years. They create the miracle by building and building infrastructure for the whole china.