'Evergrande return our money!' Investors protest at office of Chinese developer

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GUANGZHOU: 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 economy's not good at the moment, these are ordinary people and they need this money for kids, for supporting their parents," she said.Lured by the promise of yields approaching 12%, gifts such as Dyson air purifiers and Gucci bags, and the guarantee of China's top-selling developer, tens of thousands of investors bought wealth management products through Evergrande.

"It's okay for younger people like me, we can still earn it back, but I’m worried about the older ones who put everything into this," she said.

 

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Unfortunately bondholders will get paid first - then regular debt - then your money if any is left! Its better to invest in crypto. At least you don't have to beg for it in front of their office! evergrande crypto

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