2023-10-09 01:02:43
Where did Evergrande’s nightmare giant thunder go following the 2.4 trillion yuan? ! (Provided by “News Five”)
[The Epoch Times, October 8, 2023]Hui Jiayin’s “big, medium and small backers” all participated. Where did the 2.4 trillion go? A catastrophe is to come; superstar Chow Yun-fat also “insulted the Communist Party”! Is Xi Jinping no longer an “otaku”? If you want to visit the United States and Vietnam; don’t be afraid of Fukushima! Chinese tourists crowded Japan during the National Day, feasting on seafood.
Why the foul language? ! Has Lai Qingde’s painting style changed?
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Lai Qingde went crazy! Lai Qingde, are you angry? Lai Qingde was furious.
What’s going on? This is not someone else’s attempt to blame Qingde, this is a video he released to the public.
A few days ago, Taiwan’s first domestically built submarine “Hai Kun” completed the launching ceremony. Unexpectedly, it was reported that a legislator was suspected of leaking the secret. Therefore, Lai Qingde played this video from 2005 at the Central Executive Committee. At that time, he was choking with “Kuomintang Legislator Fei Hongtai.” Lai Qingde said with emotion that in the past, foreign procurement was boycotted, and now “domestic production of submarines” is also encountering such difficulties. This time, it was said that a legislator leaked the secret, so he hoped that the “investigation unit” might quickly find out.
question:
1. Lin Lan, although Vice President Lai was using foul language, netizens actually appreciated it?
Taiwanese netizens may have seen Lai Qingde’s true temperament in protecting Taiwan. Mainland netizens are surprised that politicians can be real people instead of poker faces and manuscript readers.
Submarines are an important national weapon related to Taiwan’s national security, but they have always faced internal resistance. If you sincerely protect Taiwan, it is understandable to have emotions. Some people say that if people in high positions have clear likes and dislikes, is it not conducive to national unity? But in fact, Confucius said, “Hometown wishes are the thief of virtue.”
On the surface, the good guy seems to offend no one, but he is actually hypocritical and deceiving the world. This kind of anger is actually telling the opposition party and the people in disguise, his political bottom line. However, I think that this kind of anger is ultimately a small act of internal courage. The key is to have great wisdom and courage when facing powerful enemies in order to protect the country and the people. The so-called “King Wen’s anger settled the world.”
2. Qin Peng, how did you feel following watching it? (Enjoyed?)
It’s very enjoyable, I really like watching this kind of video of politicians fighting. Also famous on the Internet, Hong Kong Congressman Chang Mao Leung Kwok-hung quoted the famous sayings of Confucius and reprimanded Carrie Lam for “the people have no faith and will not stand up”; in Taiwan, Ke Wenzhe claimed to be the right one, and Congressman Wang Shijian gave him a dragon robe and said it would help him with his mental health. treat.
U.S. lawmakers often criticize the White House, or call in big businessman Zuckerberg and others to reprimand him face to face. It’s very fun to watch. On the one hand, you can feel that these people are having fun playing house. On the other hand, you can feel that they are doing their duties and taking their responsibility seriously. Many people say that the essence of democracy is compromise, but I don’t think that is entirely correct. Democracy also requires people to feel that their opinions are heard, that someone can help you, and that they are responsible.
3. Li Xin, officials are so angry because of some political issues. What do you think?
Being so angry that you explode is your true temperament. Moreover, Lai Qingde’s anger was not out of personal gain or loss, but to defend principles and justice on major issues of right and wrong. Politicians are responsible for the interests and expectations of voters. How can they not do their best and argue for their reasons? Arguments are a manifestation of openness and transparency in democratic politics, and people can make their own judgments from the arguments.
On the contrary, the CCP’s politics has always been a black box operation. It is always peaceful and harmonious on the surface, but behind the scenes it is life and death. Think regarding the endings of Liu Shaoqi and Lin Biao. Think once more regarding the fact that Hu Jintao was publicly abducted last year. He was considered the biggest benefactor of Xi Jinping’s smooth rise to power. He did not show any intention of offending or opposing Xi Jinping, but he was publicly abducted and humiliated in front of the whole world. To this day, he does not know whether he is dead or alive.
The politics of the CCP are incomprehensible to outsiders. In fact, it is not politics. It does not have any civilized elements in it. It is completely a fight between gangs and bandits to see who is more ruthless and vicious.
4. Tang Hao, please tell me your eight characters.
Tuqiong saw Brother Belt help the CCP “print” so much money!
Fuyao: Not long ago, Evergrande Chairman Xu Jiayin had a “technical divorce” and asked his wife to go overseas with 50 billion. At that time, many people still believed that the authorities would definitely save Evergrande because the interests involved in this company were too great and Xi Jinping had no choice but to save it.
Everyone never expected that Evergrande would file for bankruptcy protection in the United States; nor did they expect that the authorities were determined to add insult to injury and arrest Xu Jiayin. His second son Xu Tenghe was also taken away.
Once the authorities did this, many people felt that they were “relieving their hatred.” Many people believe that now, China’s economy has hope.
But, is this the truth of the matter? Who borrowed the 2.4 trillion yuan in debt? Where is all this money spent? Among them, who is the noble person and who approved to give them so much money? When will this be over? Which high-ranking official will the ending be? The end, what is it? Is Evergrande the only big bubble in China? What’s the future like?
question:
1. Li Xin and Xu Jiayin’s total debt is as high as 2.4 trillion yuan, which is almost equivalent to China’s annual fiscal revenue. How did Xu Jiayin and Evergrande get to this point? How much “special treatment” did the CCP give to Evergrande?
Answer: Before Xu Jiayin was arrested, people always believed that Evergrande was a company “too big to fail” and the state would step in to protect him. Guan Shanxiang, the 38-year-old private equity fund owner, has 98% of his funds invested in Evergrande Real Estate. Finally, Guan Shanxiang jumped off the building the next day following Xu Jiayin was arrested.
Evergrande only has a registered capital of 3.9 billion, but in more than ten years it has accumulated as much as 2.58 trillion in debt, with a leverage ratio of more than 600 times, making it the real estate developer with the highest debt in history. Why can Evergrande borrow so much money? This is inseparable from the CCP’s overt and covert support for Evergrande over the years.
Xu Jiayin climbed onto the Tiananmen Rostrum during the 70th National Day of the Communist Party of China in 2019 and the Centennial Party Day in 2021. He is the only one among many real estate tycoons to have such an honor.
In December 2016, Xi Jinping, General Secretary of the CPC Central Committee, proposed at the Central Economic Work Conference that “housing is for living, not for speculation”. On the surface, this is to restrict real estate speculation. By 2019, more than 450 real estate companies had gone bankrupt in just three years. According to statistics from China Real Estate Network, Guangdong Province was the first to bear the brunt, with a total of 94 real estate companies issuing bankruptcy-related legal documents.
However, in the 70th anniversary celebration in 2019, Xu Jiayin, a real estate company started in Guangzhou, instead climbed onto the Tiananmen Gate Tower to celebrate the 70th anniversary. It shows that Xu Jiayin’s backstage is very tough. The CCP publicly stated that it would restrict real estate speculation, but it welcomed Xu Jiayin, the most suspected speculator and the most indebted person, to Tiananmen with great fanfare, clearly intending to support Xu Jiayin.
By 2021, Evergrande’s default has become public, and society, especially the financial sector, and even Evergrande are going to have big troubles. Fitch Ratings has downgraded Evergrande’s long-term foreign currency issuer rating from “B+” to “B” with a “negative outlook” ”, Evergrande’s large-scale defaults and large-scale real estate dumping have begun.
But this year, Xu Jiayin was once once more invited by the CCP to the Tiananmen Rostrum during the July 1st Centenary Celebration of the CCP. It sent a clear political signal to the outside world: “Evergrande has a future” and the country will not ignore Evergrande’s affairs.
why? The purpose is to allow the capital of high-level dignitaries to flee first, and the investments of various people to escape as soon as possible, and then let a large number of leeks continue to take over. There are rumors on the Internet that Evergrande’s creditors went to Guangdong to collect debts. They were arrested by the local police before arriving at the hotel and before arriving at the Evergrande headquarters.
In general, Evergrande is not a company that operates normally. It is more like the money bag of the CCP’s elites. Through the operation of real estate, it accommodates the huge wealth of the elites, and borrows, launders, and transfers massive amounts of funds.
2. Lin Lan, who is behind Xu Jiayin and Evergrande? Why does the CCP give Evergrande such special treatment?
3. Qin Peng, the Heng Building has not been built, but the people’s money has been paid. His wife did take some money and fled, but where did the money go following she got greedy?
Where is Evergrande’s 2.4 trillion yuan? Can we see it? stock market? land? Entertainment industry?
The buyer’s money: advance payment, enter the government and bank supervision accounts as required, and earmark the money to complete the construction and delivery of the house. However, almost all Chinese developers embezzled money on a large scale, which reflects the management problems of the authorities and they are complicit. Evergrande mainly engages in real estate development, which is divided into three steps: spending money to buy land, hiring people to build houses, and selling houses to collect money.
Hu Xueyan has a famous saying: “When doing business, you should use small measures to make a big difference. One hundred thousand silver can be used to do a million-dollar business. Eight jars with seven lids can be used to cover them.” However, China’s real estate is like 10 water jars with 2 lids. It is a high leverage, high gross profit, and high turnover model. The government, banks, and real estate developers are complicit.
Where did the 2.4 trillion yuan go? As of the end of 2022, China Evergrande holds a total asset value of 1.84 trillion yuan. The main assets are properties under development: the amount is as high as 1.14 trillion yuan, and a huge land reserve with a land reserve value of 456.8 billion yuan. There is only more than 10 billion in cash. Shareholders’ equity dropped sharply in the past three years by a total of 949.51 billion yuan:
1) Before the explosion, the total assets at the end of December 2020 were 2.3 trillion yuan, and the total liabilities were 1.95 trillion yuan. The shareholders’ equity calculated by subtracting the two was 350.43 billion yuan.
2) 2021 is considered a turning point. The total assets and liabilities at the end of December were 2.11 trillion yuan and 2.58 trillion yuan respectively. The liabilities began to be higher than the assets, so shareholders’ equity showed a deficit of 473.05 billion yuan. 3) The situation will further deteriorate in 2022. The total assets and liabilities at the end of December were 1.84 trillion yuan and 2.44 trillion yuan respectively, and the shareholder equity deficit expanded to 599.07 billion yuan.
So, why is the money lost?
First, diversified investments and losses: The situation is precarious. The cumulative losses of non-real estate business from 2016 to 2021 have reached approximately 30.1 billion yuan, making it impossible to infuse blood into the main business. 1) Evergrande Ice Spring, 4 billion yuan; 2) Football, losing regarding 1 billion yuan every year; 3) Evergrande Auto: By the end of 2020, Evergrande’s cumulative investment in the field of new energy vehicles has reached 47.4 billion yuan. From 2020 to 2022, Evergrande Automobile suffered a cumulative loss of 91.673 billion yuan.
However, the core issue is the business model and its own operating problems: the high turnover model, once the reputation collapses, or the creditor withdraws the loan, or the sales are significantly reduced. They will all collapse. However, Evergrande exploded, the CCP was cleared in three years, and real estate supply exceeded demand, which broke the camel’s back.
Second, financial costs: With a debt of one trillion yuan, the annual interest alone is more than 100 billion yuan. Evergrande issues bonds overseas and has to bear the exchange rate difference if it is denominated in US dollars.
Third, dividends: From 2011 to 2020, Evergrande Group paid dividends every year, with the total amount of dividends exceeding 114.2 billion.
Fourth, losses related to land resumption and impairment of financial assets. This part of the black hole is huge, and the government, state-owned enterprises, and related households are definitely taking advantage of it.
How to evacuate funds/transfer assets? The black hole in the entire business operation process may be huge, such as the profit transfer from buying and selling land (buying a very expensive piece of land and selling it very cheaply to make the cost), operating expenses (disguised bribery), marketing expenses (Evergrande Song and Dance Troupe) ), dividends (may not be profitable at all but just money), high-volume bond issuance to distribute money, use of foreign investment and loss transfer, and government extraction, billions or tens of billions can easily be lost.
4. Tang Hao, is the CCP’s sudden focus on attacking Xu Jiayin really meant to bring justice to the people? Many people said that Xu Jiayin should have been arrested long ago, and it would be fine if he was arrested. Is it this way? Next, will China’s economy improve?
We have to continue watching Brother Belt’s drama. However, it’s time to revisit Fa Ge’s drama. What is a person’s “heroic nature”? Later, Li Xin took us to watch a movie together.
Fa Ge shows his true qualities as a hero once more and speaks at the Busan Film Festival, targeting the CCP
Li Xin: Chow Yun-fat, the acting superstar of the Hong Kong film industry, has created many classic characters. From “Shanghai on the Bund” to “A Better Tomorrow” to “God of Gamblers”, he became popular and influenced generations of Chinese audiences. He also entered Hollywood, and “Crouching Tiger, Hidden Dragon” gained him worldwide fame.
After 1997, he also participated in some mainland-produced films: “Let the Bullets Fly”, “Confucius” and so on. This three-time Academy Award winner and two-time Golden Horse Award winner made a shocking statement regarding the situation of the Hong Kong film industry at the Busan Film Festival in South Korea on October 5. Let’s see what he said. It can be seen that Chow Yun-fat’s words were very sincere and full of emotion. He has witnessed the development of Hong Kong movies over the past few decades from weak to prosperous and then to decline, and feels very sad regarding today’s Hong Kong movie industry.
question:
Fuyao, why do you think Chow Yun-fat expressed such emotion? What kind of censorship are Hong Kong and even Chinese films facing now?
Tang Hao, when was the golden age of Hong Kong movies? Why? “Asian Hollywood”
Qin Peng, some people say that Chinese cinema is dead, and it will be difficult to produce films such as “Farewell My Concubine” and “Alive” that profoundly reveal social reality. But some people say that China now also has blockbusters such as “Fengshen” and “Chang’an 30,000 Miles”. What do you think?
“Let the Bullets Fly”, “I’m Not the God of Medicine”, and “The Journey of Thailand” are all good movies. However, this kind of excellence is entirely the result of dancing in shackles and surviving in the cracks. Moreover, in the past 30 years, the CCP has only produced a few films that are reasonable. Too little.
The root cause is that China lacks an environment for free innovation. The first human right is freedom of speech, and its root is freedom of thought and freedom of information. Without freedom of speech, it would be impossible to have a good show and a constant stream of masterpieces that would make you amazed and shout out over and over once more.
Nowadays, when I occasionally see “Fengshen” and “Chang’an 30,000 Miles”, I feel the same as when I saw the occasional masterpieces “The Legend of Wu Xun” and “Hai Rui Strike” during the political confinement of the Chinese Communist Party in the first 30 years. Most of the others are spicy chicken. Or to use an analogy, the CCP also had some technological innovations in the first 30 years, but overall it lagged behind international standards by 20 to 30 years.
I have always believed that the Chinese people are very smart, and that Chinese culture is broad and profound. Later, Japan and South Korea were deeply influenced by Chinese culture. However, Japan can produce masterpieces like “Blood Doubt”, “The Red Bean Dancer” and “Oshin”, and South Korea can produce masterpieces like “Dae Jang Geum”, “Queen Seon Deok” and “Along with the Gods”, and even the United States’ ” “Kung Fu Panda” is full of Chinese flavor at first glance. Even “Dae Jang Geum” is full of Chinese characters and Chinese allusions (which are useless), but China just can’t make them. Isn’t it sad? When I watched these movies, I felt mixed emotions, both moved and sad.
If China wants to make good movies, it must get rid of the control of the CCP and at the same time wash away the ideological dross instilled by the CCP.
I don’t know if Xi Jinping can hear Fa Ge’s lament, and the rise and fall of the film industry is obviously not what Xi Jinping needs to consider. Next, Tang Hao will take you to learn regarding the president who is no longer an otaku, and what will happen. What kind of trip.
Visit Vietnam first and then go to APEC. Is Xi Jinping no longer a homeboy?
Tang Hao: Xi Jinping has significantly reduced the number of overseas visits this year, and has also significantly reduced the number of public meetings he hosts at home. It is probably to prevent assassins and avoid assassins, so he does not go out unless necessary and stays at home.
But the latest news is that Xi Jinping is no longer a homebody. He is planning to visit Vietnam at the end of October or November. Not only is China eager to find 800 hotel rooms in Vietnam for the visiting delegation to use, but personnel from both sides have also begun drafting a Sino-Vietnam joint statement. document.
Coincidentally, there are also reports from the United States that Xi Jinping will visit San Francisco in mid-November to attend the APEC Summit of the Asia-Pacific Economic Cooperation Conference. At that time, Xi Jinping will hold a second face-to-face “Xi meeting” with Biden on the sidelines, and the heads of state of the two major powers of the United States and China will finally interact face-to-face once more.
Qin Peng: We know that Biden just visited Vietnam in September, and now Xi Jinping is going to visit Vietnam soon. Why is Xi Jinping so anxious to go to Vietnam? Isn’t he afraid of being shot down by the Rocket Army?
Geopolitics, ideology, and economics are the three major factors.
Lin Lan: Xi was absent from the G20 and the United Nations General Assembly this year, and once hinted that he would not participate in APEC. But now he is preparing to go to the United States to participate in APEC. How do you interpret this turning point? Does the CCP want to talk to the United States regarding anything?
Answer: Xi Jinping was absent from the G20 Summit. Many analysts mentioned that an important factor is that he has extreme distrust of the Rocket Force and is worried that his special plane will face the fate of Lin Biao 2.0, so he does not travel far unless necessary. But now that the Rockets have been purged for several months, almost all at once, he may think that this threat is less.
In addition, the G20 summit was in September. At that time, the Qin Gang case and the Rocket Force den case were both under investigation and were rumored to be related to the United States. But as the investigation progresses, I think the authorities also realize that Qin Gang and the Rocket Army have more internal problems. Therefore, the resistance to dialogue with the United States is reduced.
At the same time, there are also some reasons that prompt the CCP to want to dialogue with the United States.
The first is to build guardrails and fight without breaking them down. On the issues of the Taiwan Strait, South China Sea, and East China Sea, the CCP has been playing cliff tactics with neighboring countries and constantly escalating provocations. However, the CCP does not really want to start a war now because its military and economic strength do not allow it. So it wants to Talk to the United States, exchange trump cards, and build a guardrail to prevent miscalculation and misfire.
Second, the economy is in a sluggish state and people are looking for beauty. China’s economy continues to be sluggish, and it needs to obtain some life-saving funds and technology through the pipeline of foreign-funded enterprises. Therefore, the CCP is trying to prevent the US government from continuing to introduce policies that allow American companies and funds to flow out of China.
In addition, in terms of high-tech blockade, the chip equipped with Huawei Mate60 has made the United States realize that there are loopholes in its “containment circle” of technological warfare, so the United States may try to remedy the situation. For example, the United States is regarding to introduce a new ban to restrict the export of chip tools to China, which is very fatal to the CCP. Therefore, the CCP is likely to ask the United States to relax its export ban on China’s high-end chips and manufacturing equipment. Otherwise, the CCP may restrict the mid- to low-end chips of U.S. semiconductor companies and prevent them from selling them in China.
But I don’t think the United States will back down easily, because the CCP’s high-end chips are not purely commercial, but can be used for military purposes and stability maintenance and suppression. But at the same time, the CCP is using force to intimidate U.S. allies, such as the Philippines and Taiwan. How can the United States Easily relax restrictions.
The third one is international containment and an attempt to break through. The international alliance led by the United States continues to isolate the CCP militarily, economically, and politically. Even the role that the CCP was proud of in the past as the “leader of the global South” may now be replaced by India, and India has the support of the United States and Europe. .
The CCP realizes that if it continues like this, it may gradually lose its voice and living space in the international order, so it will try to use delaying measures once more, such as talking to the United States, and I will cooperate with you on the Russia-Ukraine war and North Korea. Let’s see if we can exchange it for the United States to relax its international containment of the CCP.
In other words, although both the United States and China now want to maintain the status quo of “fighting without breaking up,” the differences in values and national interests between the two sides are already quite antagonistic and cannot be reconciled. The United States has seen through that behind the smiling mask that the CCP has worn for decades is its wolfish ambition to undermine the free world and the post-war order. Therefore, competition and even confrontation between the United States and China will only escalate.
Thank you both for your analysis. After reading today’s main news meal, we have a new dish called “News Platter”. Let Lin Lan take you to taste it. Come back later.
News platter:
Nanyang music “robbery” police acted quickly: arrest netizens
Lin Lan: During the National Day holiday, Nanyang, Henan Province became a hot search topic. The Midi Rock Music Festival held locally was overcrowded, not only claiming to have 150,000 spectators, but also rampant thieves. Some tourists said that they saw many uncles and aunties coming to the scene, looking through other people’s things at will, and there were people driving tricycles nearby to pick them up. From valuable computers and mobile phone tents to worthless diaries and even underwear, some people stole them. Music festivals turn into musical robberies, robberies of robberies.
The local police responded quickly and announced the criminal detention of netizen Chen because he spread the news that “there are many tents, who needs to come and get them” and thus incited and misled the surrounding villagers to come to “zero yuan shopping”.
Qin Peng, are the police looking for scapegoats once more? Are the people angry?
Can’t you just listen?Hebei women’s bus now charges for singing to block doors
There are those who get something for nothing, and there are those who buy and sell by force. Recently, a woman in Zhangjiakou, Hebei Province, took a bus and showed off her singing voice. However, she sang one sentence and asked everyone who heard her singing to pay, otherwise they were not allowed to get off the bus, and then blocked the bus door. . Later, he was pulled aside by angry passengers and walked away unwillingly.
Fuyao, what do you think of this operation?
Biden: Unable to stop wall construction, green light to exempt 26 regulations
When Biden was running for president, he promised that “not another foot” of border wall would be built during his term. But this week, the Biden administration announced that it will build 20 miles of new border wall in Texas.
Biden explained that this was because Congress had already approved the relevant appropriations, and by law he might not change the purpose of the money.
However, it is worth noting that in order to give the green light to build the wall, the Biden administration specifically exempted 26 federal regulations on the grounds that “illegal immigration is rampant.”
Li Xin, is the Biden administration powerless, or is it happy to see results?
He took the initiative to promote this matter. It’s Trump-era funds being used. So Trump issued a message saying that Biden owed him an apology. Biden was indeed forced to do this due to the situation. First of all, the 2024 election is approaching. The main issues that voters care regarding are economic issues at 60%, followed by health care at 33%. The third largest issue is immigration at 28%. According to statistics from the U.S. Department of Homeland Security, more than 20 people were arrested at the border in September. Thousands of illegal immigrants.
The fourth issue is security and crime issues with 24%. In fact, these issues are all related to illegal immigration. The arrival of large numbers of illegal immigrants has emptied local finances. Local governments provide free accommodation and living expenses to illegal immigrants seeking asylum, all of which are paid for with taxpayers’ money. It has become a A fiscal black hole that cannot be filled. Illegal immigrants also occupy public medical resources and inevitably bring regarding urban security and crime problems. If Biden continues to let it go, it may have an adverse impact on his election.
At the same time, Biden also faces strong pressure from within the Democratic Party. Democratic-run sanctuary cities such as New York City and Chicago are now also putting pressure on Biden. New York Mayor Adams was once proud of New York’s status as a sanctuary city. Now, following accepting more than 110,000 undocumented immigrants, each immigrant costs New York City an average of $383 per day.
Adams predicted that municipal spending would be as high as $12 billion more, and he declared that the immigration crisis will devastate New York City and paralyze the city. Strong criticism of Biden’s handling of the immigration crisis. New York Governor Huo Chu also changed his attitude, criticizing the Biden administration’s immigration policy as “crazy” and saying that the U.S. border is too open. Chicago has also attracted a large number of illegal immigrants because of its reputation as a sanctuary city. The far-left former Democratic mayor declared a state of emergency in the city before leaving office.
All people once morest Japan?Mainland Chinese tourists crowded Japan to eat seafood during the National Day holiday
The CCP has repeatedly hyped up the topic of Japan’s nuclear wastewater and banned the import of Japanese seafood. But during the National Day holiday, a large number of Chinese tourists choose to travel to Japan.
From September 27th to 30th, flights from Beijing to Tokyo were almost full. Some Japanese media randomly interviewed Chinese tourists and asked them whether they were worried regarding the safety of Japanese seafood. As a result, out of 11 groups of tourists, only 2 said they did not dare to eat Japanese seafood. The other tourists were quite honest. They say they believe in the monitoring of the international community. Politics is politics, and life is life.
Tang Hao, some time ago it seemed that all the people in China were once morest Japan. Which one is the real China? Can we have another “news poem” at the end?
Okay, thank you all for your analysis. That’s it for the rich news feast. Thank you for watching. See you next time on “News Five”.
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