Author Topic: Is there a Global Crisis on its way?  (Read 3872 times)

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Offline eyephone

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Reuters: 'Return our money!' Evergrande investors protest at office of Chinese developer

Investors in financial products issued by China Evergrande Group protested outside the cash-strapped company's offices in Guangzhou on Tuesday, with many worried that their returns would be sacrificed to keep real estate projects afloat.

Members of the crowd of roughly 100 people shouted "Evergrande, return our money!", reprising a chant used by disgruntled investors and suppliers last autumn as the deterioration in its financial position became apparent.

The change sparked investor fear that they won't get their money back.

"I think it's hopeless, and I'm scared, but if we don't fight for our rights, that's worse," said a retired woman surnamed Du who was among those outside Evergrande's offices in the southern Chinese metropolis and said she had invested one million yuan in Evergrande wealth management products.

"The economy's not good at the moment, these are ordinary people and they need this money for kids, for supporting their parents," she said.

China Evergrande did not respond to a request for comment on the protest or on the concerns of the investors.

https://www.reuters.com/markets/rates-bonds/evergrande-return-our-money-investors-protest-office-chinese-developer-2022-01-04/




 

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