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BREAKING: China’s Evergrande, With Its Huge China Real Estate Portfolio, Has Trading Halted As Its Debt Crisis Escalates

By Joe Hoft
Published October 4, 2021 at 10:30am
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The Evergrande saga continues.  On Monday trading for Evergrande stock was halted in Hong Kong.

We’ve reported on the China behemoth Evergrande that has been going under for a month.   Today, despite numerous attempts to revive the company, the end appears near.

On September 9, 2021, we first reported on the pending Evergrande collapse and what it will mean to the China economy.

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This company is a massive entity with reportedly the largest amount of debt of any company in the world.  The problem is the company cannot pay its debt.

NBC is reporting this morning:

Shares in troubled real estate developer China Evergrande Group and its property management unit Evergrande Property Services were suspended from trading in Hong Kong on Monday as investors awaited the next steps in the saga of its debt crisis.

Cailian, a Chinese online news service affiliated with the state-run newspaper Securities Times, said another developer, Hopson Development Holdings, was planning to acquire a majority share in Evergrande Property Services Group.

Hopson suspended trading of its shares in Hong Kong on Monday. The suspension was “pending the release of announcement(s) in relation to a major transaction of the company under which the company agreed to acquire the shares of a company . . . listed on the stock exchange,” it said in a filing.

The Wall Street Journal warns, however:

Evergrande’s potential deal to sell its profitable property management unit may buy it a little breathing space for now. How much oxygen will ultimately be left for investors remains highly uncertain.

As we previously warned, the economic crisis in China is real.

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Joe Hoft
Joe Hoft is the twin brother of TGP's founder, Jim Hoft, and a contributing editor at TGP. Joe's reporting is often months ahead of the Mainstream media as was observed in his reporting on the Mueller sham investigation, the origins of COVID-19, and 2020 Election fraud. Joe was a corporate executive in Hong Kong for a decade and has years of experience in finance, IT, operations, and auditing around the world. The knowledge gained in his career gives him a unique perspective of current events in the US and globally. Joe is the author of five books. His new bestseller, 'The Steal: Volume II - The Impossible Occurs' is out now. It addresses the stolen 2020 Election and provides an inventory of activities that prove the 2020 Election never should have been certified for Joe Biden. It's available at major retailers now - Please take a look and buy a copy.







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