Evergrande liquidation: What's behind China's biggest corporate fail ever | DW News
Summary
TLDRОдним из крупнейших китайских недвижимости компаний Evergrande, обязанной перед кредиторами более 270 миллиардов евро, приказано ликвидироваться по решению суда в Гонконге. Проблемы компании усугубились после неудачной попытки договориться с кредиторами и введения ограничений Пекином на заемные операции. Ликвидация может иметь серьезное влияние на экономику Китая и мировые рынки, особенно учитывая, что недвижимость составляет 25% экономического роста страны. Власти Китая сталкиваются с задачей миллионов людей, которые не получили жилье, за которое уже оплатили. В настоящее время суд рассматривает судебные иски кредиторов, и ожидается, что будут назначены ликвидаторы для официального начала процесса ликвидации.
Takeaways
- 🏢 Китаяшская крупнейшая недвижимостная компания Evergrande была принудительно ликвидирована судом в Гонконге из-за неспособности расплатиться с кредиторами.
- 💸 Evergrande является мировым лидером по долгам с более чем 270 миллиардами евро задолженности.
- 🚧 Процесс ликвидации может быть сложным из-за участия множества органов власти и политических соображений.
- 🌐 Ликвидация Evergrande может оказать значительное влияние на экономику Китая и мировые рынки.
- 🏗 Большое количество строительства, начатое Evergrande, осталось незавершенным из-за финансовых трудностей.
- 📈 Evergrande была основана в 1996 году во время масштабной урбанизации и быстрейшего роста жилищного рынка в истории Китая.
- 💼 Компания принимала предоплаты за квартиры, которые не строила, и расходовала средства на дополнительные участки и банковские сборы.
- 📉 В результате ликвидирующей кризисы Evergrande не смогла оплатить счета строителям, декораторам и агентам недвижимости.
- 🏦 В 2020 году китайские власти ввели ограничения на заемные операции для разработчиков, что привело к замедлению роста Evergrande.
- 🏙️ Недвижимость, связанная с Evergrande, затронула миллионы потенциальных жильцов, которые уже оплатили за жилье.
- 🤔 Китайский правительству предстоит решать серьезные экономические и социальные проблемы, связанные с ликвидацией Evergrande.
Q & A
Чему приказал суд в отношении компании Evergrande?
-Суд в Лондоне приказал ликвидировать компанию Evergrande, одной из крупнейших китайских недвижимости разработчиков.
Каково общее долговое обязательство Evergrande?
-Evergrande - самый долговой разработчик в мире с более чем 270 миллиардами евро обязательств.
Почему не удалось Evergrande заключить соглашение с кредиторами?
-Поскольку суд не был удовлетворен предоставленной Evergrande работой по реструктуризации долга, который составляет более 300 миллиардов долларов.
Какие могут быть последствия ликвидации Evergrande для экономики Китая?
-Ликвидация Evergrande может иметь значительный эффект на экономику Китая и мировые рынки, поскольку недвижимость является одним из основных двигателей экономического роста страны.
Какие политические рассмотрения могут сложить ликвидационный процесс Evergrande?
-Ликвидационный процесс может быть сложным из-за участия множества органов власти и политических соображений.
Как Evergrande накопила такое большое долговое бремя?
-Evergrande активно зависела от цепи долга для расширения и поддержания бизнеса, включая не только строительство, но и другие сектора, такие как электромобили.
Какие были ограничения, введенные Пекином для разработчиков?
-В 2020 году власти Пекина ввели ограничения на заемные операции для разработчиков, что сделало заемные операции для Evergrande сложнее, чем в предыдущие периоды.
Что ожидают кредиторы Evergrande в связи с ликвидацией?
-Кредиторы могут ожидать получить некоторые средства, но вероятность полного возмещения долга невелика, поскольку большая часть активов Evergrande заложена в неоконченных строительных проектах.
Какой процент возмещения кредиторам Evergrande ожидается?
-Последняя оценка показывает, что вероятность возмещения кредиторамEvergrande составляет около 3-3,5%.
Какой вклад недвижимость Evergrande в общую экономику Китая?
-Сектор недвижимости составляет около 25% экономического роста Китая, что делает его одним из ключевых двигателей экономического развития страны.
Какие меры ожидаются от китайского правительства в связи с ситуацией с Evergrande?
-Ожидается, что китайские власти предпримут меры для сдерживания ущерба, вызванного Evergrande, и другими компаниями, столкнувшимися с кризисом.
Что может быть проблемой для китайского правительства в связи с неоконченными объектами Evergrande?
-Одной из проблем является то, что много людей ждут переехать в эти квартиры с их семьями, и теперь они могут столкнуться с задержками или неполным строительством из-за ликвидации Evergrande.
Outlines
🏢 中国房地产巨头恒大集团面临清盘
香港法院下令中国最大的房地产开发商之一恒大集团进行清盘。恒大集团是全球负债最多的房地产开发商,负债超过2700亿欧元。清盘命令是在与债权人达成协议的努力失败后发出的。清盘过程可能会很复杂,涉及多个当局和政治考量。清盘可能会对中国乃至全球市场产生重大影响。恒大集团在多年的建设中,由于资金流动性危机,导致无法支付给建筑工人、油漆工和房地产经纪人的账单,进一步导致140亿美元的债务雪球效应,进一步的建设被迫停止。目前,恒大集团的许多大型开发项目处于未完成状态,估计可容纳14亿人居住。
📉 恒大集团的债务危机及其对全球市场的潜在影响
恒大集团的债务问题及其清盘对中国政府来说是一个重大问题,因为房地产行业占中国GDP增长的25%,是经济增长的主要引擎。恒大集团的债务危机不仅是一个经济问题,而且已经演变成一场信心危机,影响市场和公众。许多普通购房者因无法获得已付款的房产而受到影响。中国政府需要谨慎处理这个问题,并采取措施减少恒大集团及其他面临危机的公司带来的损害。此外,恒大集团的清盘可能会对全球市场产生影响,因为中国的经济增长和房地产行业在全球经济中扮演着重要角色。
🏗️ 恒大集团的房产项目现状及其对购房者的影响
恒大集团负责建造数百万套住宅,这些住宅本应是许多家庭的家园。目前,许多建筑项目已经停工,有些甚至因为未获得许可证而面临被拆除的威胁。恒大集团副总裁表示,公司将确保在建房屋交付给买家,但具体情况仍不明朗。由于许多建筑已经停工两年多,目前还不清楚这些建筑的未来将如何发展。
Mindmap
Keywords
💡Реализация активов
💡Долги
💡Ликвидация
💡Политическое вмешательство
💡Влияние на экономику Китая
💡Глобальные рынки
💡Урбанизация
💡Залоговые платежи
💡Конкуренция
💡Кредиторы
💡Развитие недвижимости
Highlights
中国最大的房地产开发商之一被香港法院命令清算
恒大集团是全球负债最多的开发商,负债超过2700亿欧元
清算命令是在与债权人达成协议的努力失败后发出的
清算过程可能复杂,涉及多个当局和政治考量
清算可能对中国和全球市场产生重大影响
恒大集团曾计划为数百万潜在购房者建造房屋,但多年来其项目一直未完工
恒大集团的创始人许家印因此成为世界上最富有的人之一
恒大集团在流动性危机中发现自己无法支付账单给建筑工人、油漆工和房地产经纪人
公司的债务迅速增加至1400亿美元,进一步的建设被迫停止
Transcripts
now one of China's largest real estate
developers has been ordered to liquidate
by a court in Hong Kong evergrand is the
world's most indebted developer with
more than 270 billion EUR worth of
liabilities the order came after efforts
to strike a deal with creditors failed
but the liquidation process could be
complicated numerous authorities are
involved and there are political
considerations as well liquidation could
have a major effect on China's economy
and Global
markets massive sprawling and unfinished
for years now no work has been done on
any of the sites where Chinese real
estate giant ever Grand once planned to
build homes for millions of wanabe
homeowners and likely no work will be
done for a long time as the property
developer is being wound up in the most
spectacular corporate downfall in
China's
history it all started here in shenen a
special economic zone where the Chinese
Communist party was experimenting with
capitalism here evergrand was founded in
1996 at a time of China's great
urbanization when Millions from all
across the country flocked towards the
cities it led to a housing boom unlike
any the world had ever
seen evergrand was fast to build CH
apartment projects but not fast enough
to satisfy Dem and the company accepted
down payments for apartments it never
built soon after that money was gone
much of it spent on more plots for
future development on banking fees in a
desperate effort to raise more cash and
on Executive pay that turned ever
Grant's founder we cayan into one of the
world's wealthiest people in the midst
of a liquidity crisis ever Grand found
itself unable to pay its bills to
construction workers painters and real
estate agents soon the company's dead
snowballed into $140 billion further
construction was halted and while the
courts rule over everg Grant's future
giant developments sit unfinished
insiders estimate they can hold up to
1.4 billion
people let's go straight to Hong Kong
and speak to DW's Phoebe Kong Phoebe
what more can you tell us about this
Court
ruling well I'm standing outside the
court which uh just order um the Chinese
uh giant the developer aant to liquidate
this morning um that the judge said um
that um the over the past 18 months
since the initial petitions uh was filed
by a Hong Kong based uh company top
shine and later joined by other offshore
uh creditors um that the whole um
petition hearings that has been
postponed for seven times and now now
it's finally happening because the the
court um feel that it wasn't convinced
by F Grand that it has uh like moved
forward with a viable restructuring plan
to restructure is over uh $300 billion
dollar debt um that it has uh it has
accumulated over uh the years and that
the court um like the judges said um the
judge said um it will uh like later in
the coming hours in the afternoon that
it will layer more details of the
reasoning and also the arrangement of
the uh liquidation process what where we
expect that uh it will appoint a
liquidator to uh to officially kick off
the winding up uh
procedures well as you say Phoebe uh
everr has racked up hundreds of billions
of dollars in debt it it's already
defaulted on some of that debt H how did
it get itself into this
mess well uh we have to bear in mind
that Igan being one of the legendary
Chinese uh property Giants that it
heavily relied on the chain of debt to
expand and sustain its business in
various sectors not limited to um uh
building businesses but also uh like all
kinds of electric vehicles and all kinds
of other industries that it has Ste in
and uh we have also have to bear in mind
that uh in 2020 that Beijing authorities
has uh implemented uh some restrictions
on the borrowing policy on Developers
that um directly prompted um that the a
grant as U that that they couldn't
borrow money that easily compar compared
to previous period so um that was the
beginning of the so-called slow motion
collapse of the property Giant and
everyone now is facing a forthcoming uh
liquidation process that we're expecting
that um the Liquidator would uh like um
uh identify and also to calculate all
the assets
um not only in Hong Kong but also in
mainland China so it would take years
and uh it has a big questions to whether
this uh order could um could be applied
in mainly China um like completely and
also how the creditors could access and
claim uh the exess um of everr in
mainland China that that would be the
coming questions that um that everyone
will close to watch about this phoe as
you were talking to us just there we
were looking at some pictures of
finished apartment buildings huge
projects evergrand is responsible for
building homes for millions of people in
China how much of a problem will this be
for the Chinese
government well um very importantly um
the property sector has um it accounts
for 25% of China's GDP growth so so it
is uh like really the major engine of um
the economic growth of China so um so
it's not only an economic problem and
it's not only the problem of this um uh
property Empire but also the government
itself because like it's now uh has
evolved into kind of like a confidence
crisis it's not only a debt crisis but
also a confident crisis that uh affect
not only the market but also the general
public that many ordinary home buyers
are affected because they couldn't get
um the property after paying the debt so
um the the impact and also the effect is
very like widespread across China so um
it has to be something that has to be
dealt with um by the Chinese authorities
very delicately and we are expecting
some more measures that the China
government is trying to contain the
damages brought by uh e ground and also
uh other uh companies that facing de
crisis phbe thank you very much that was
our correspondent Phoebe Kong in Hong
Kong well for more on this we're joining
here in the studio by L halter from our
business desk L tell us more about the
implications of this liquidation order
forever Grand could it have effects on
markets Beyond China oh it very well
could Terry obviously uh because we have
to just look at China's role in the
world and how the economy there has been
doing as of late and obviously China and
the Chinese economy was still the engine
of the world's economy for a couple of
years now we have seen very rapid growth
here you might remember for the the last
couple of years we've really seen double
digit economic growth in China and now
that has pretty much Fallen apart of
course much of it is also covid related
still last year we saw GDP growth of
just uh 5% or so and in other countries
that would be massive but for China and
compared to their numbers that is really
weak and we have to see how important
the construction and the development
sector is in that that was massive and
now obviously this whole story is
entirely weakening that sect even more
and a lot of the western world is still
dependent on China I mean we've seen
we're seeing this drisking strategy
where the West is trying to grow a
little less dependent on China but we
still are at this point whether it's for
supplies for some companies for others
it's the market evergrand has billions
of dollars in debt uh it's already
defaulted on part of that the the judge
said there's no viable restructuring
plan in place what about the creditors
can they expect to get their money back
it's going to be tough for them they
might get some money back but certainly
not a lot as you said there's no
liquidity it's all basically in those
ginormous buildings that we've seen
everywhere so there was a recent
analysis by Deo and they said that the
return rate or the recovery rate we
should say for creditors is probably 3
and a half% but then we also saw some
investigations into crimes and
mismanagement and they actually lowered
that number close closer to 3% even so
there is likely just not much money
coming back to creditors at all now
everr is responsible for building
millions of homes in China people are
supposed to be living in those homes uh
how much of a problem is this for the
Chinese government there's definitely a
massive problem I mean yeah we've seen
this urbanization over the last couple
of years or decades actually and there
are people who are desperately waiting
uh to move into these apartments with
their family the cities have been
growing and for many are terrible there
they've been waiting for these stories
now uh we just got a statement here from
ever Grant's vice president shaen and he
says that they will ensure homes under
construction are delivered to buyers but
of course we don't know what that is
even worth a lot of the buildings will
get sold uh who's buying them how long
is it even going to take at this point
no work has been done in many of these
uh developments for the last two years
or so some are actually in a threat of
being torn down because they were built
without licenses so it's really I would
say impossible to say right now what is
happening to how many of these buildings
quite a mess L halter from my business
Nest thanks very much
sure
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