GUANGZHOU, Jan 4 — Investors in financial products issued by China Evergrande Group protested outside the cash-strapped company’s offices in Guangzhou today, with many worried that their returns would be sacrificed to keep real estate projects afloat.
Once China’s top selling developer but now reeling under more than US$300 billion in liabilities, Evergrande had previously agreed to repay 10 per cent by the end of the month when the product matured, without specifying an amount.
By midday, about 60 of those protesting had been hemmed in by rows of security personnel. Videos circulating in WeChat groups showed several people being detained at the scene. “We worry we will be sacrificed,” said a 34-year-old protester who works in e-commerce and would only give her name as Sophie, for fear of reprisal from authorities.
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'Evergrande return our money!' Investors protest at office of Chinese developerGUANGZHOU: 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. 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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