Now what is the Chinese Government going to do with all this stranded property?I've also read in various sources that China is more likely to think of it's national interest and if there is a bailout it'll be more like the nationalisation of the company and assets (unbuilt or partly built apartments) that @over9k mentioned.
It's possible, but I fear only the local creditors and apartment depositors are likely beneficiaries:
However the overseas creditors may lose out in such a deal, so there could be some write-downs outside of China e.g. in Global funds etc. If it's Evergrande write-down only, the funds may be able to save their balance sheet. But what if there are more mice in the field as per @Smurf1976's comment ?
- Local creditors (Chinese state owned banks for e.g.) will get all or some (could be a haircut) of their money back
- The Chinese citizens who are about to jump off the apartment towers fearing they've lost their life savings will be re-assured that their investment will be saved via their apartment built to completion.
3y ago, by night, most of the high rise residential buildings were lightless..not occupied.. and same for offices..huge overshot..before covid..so doubt it has been filledNow what is the Chinese Government going to do with all this stranded property?
China to move 100 million farmers to cities in urbanisation plan
According to a government plan published last year, China aims to raise the number of registered urban residents to around 45 per cent by 2020.economictimes.indiatimes.com
So all of a sudden the companies that were supported to build them, have fallen over, surprise surprise, lucky the Gov will be there to help mop up.3y ago, by night, most of the high rise residential buildings were lightless..not occupied.. and same for offices..huge overshot..before covid..so doubt it has been filled
An opportunity wasted.3y ago, by night, most of the high rise residential buildings were lightless..not occupied..
Most office buildings in shenzhen had inbuilt leds on the windows and were giant screens, luckily not too much residential ones .as you still want to sleepAn opportunity wasted.
Some artwork of a sort could have been created by opening the blinds on selected windows and turning the lights on in that room. When viewed from a distance it would create an image of a sort.
Seriously, if they were empty 3 years ago and they've kept building in the meantime then how many are empty now? Must be a huge number.
Worth watching this and note the date - it's presumably even more now?
I wanted to add pictures/video but not on phone anymoreMost office buildings in shenzhen had inbuilt leds on the windows and were giant screens, luckily not too much residential ones .as you still want to sleep
a bit of entertainment: please enjoyI wanted to add pictures/video but not on phone anymore
Nice video - only problem is I wasn't expecting sound, had the speakers turned up, and the sudden music scared the proverbial out of the cat....At the very least, Evergrande via the UBS and other western groups will have created cute light shows...
These billions did not go in smoke but in lights
Are we talking US stocks or China stocks ?Jokes aside, even energy & banks are now deep into the red tonight. Everyone are in full on freak-out mode.
A good 2-3 weeks too late IMO, but they are.
U.S. China already plummeted early today. You see my post about the hang seng tech index hitting a new record low?Are we talking US stocks or China stocks ?
Yes I read that comment.U.S. China already plummeted early today. You see my post about the hang seng tech index hitting a new record low?
Hey I'm still trying to decipher if it US or China getting the upper hand.Nahhhhh...
What tipped you off?
I think NZ might become the leader when it comes to heading the fiscal world in the right direction.RBNZ now raising interest rates.
Energy crisis + rampant speculation would be an excellent pretext for raising rates...
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