Beijing: Chairman of the Chinese housing giant who is indebted to Evergrande, he believes the group will “step out of the darkest moment”, the country’s media reported Tuesday, because the Asian stock market panicked, the conglomerate would default.
Faked developers have struggled to calm home buyers and investors who are angry because they sway on the verge of collapsing with debt exceeding $ 300 billion.
Xu Jiayin, who founded the company in 1996, told staff in a letter to mark the mid-autumn festival that he “firmly believes Evergrande will be able to get out of the darkest immediately”, reports the time of securities run by the state.
He continued by saying Evergrande would increase the commencement of work and production, ensuring building delivery, and “submit responsible answers to home buyers, investors, partners and financial institutions”.
He also thanked the staff for their hard work in the letter, because China celebrated a two-day holiday.
It happened because the fear of the transmission of seeing Hong Kong and Tokyo shares fell in morning trade, with other property companies in the firing line.
The Evergrande crisis has even triggered a rare protest outside the company’s office in China by investors and suppliers demanding their money – some of them claim they are owed as much as $ 1 million.
The company acknowledged earlier this month that it was under “extraordinary pressure” and may not be able to fulfill its obligations.
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