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Evergrande
The China Evergrande Group is the second largest property developer in China by sales. It is ranked 122nd on the ''Fortune'' Global 500. It is incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai Financial Center in Nanshan District, Shenzhen, Guangdong Province, China. It was founded in 1996 by Xu Jiayin. It sells apartments mostly to upper- and middle-income dwellers. In 2018, it became the most valuable real estate company in the world. In 2021, the payments Evergrande had to make on its debt started the 2020–2022 Chinese property sector crisis; Evergrande's total debts were estimated in the hundreds of billions of dollars. This was one of the reasons for a drop in many stock market indices on September 20, 2021. At the end of 2021, the Chinese government was reportedly working to restructure Evergrande in order to resolve the crisis. The group also sought a moratorium on the early repayment option on one of its yuan-deno ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2020–2022 Chinese Property Sector Crisis
The 2020–2022 Chinese property sector crisis is a current financial crisis sparked by the difficulties of Evergrande Group and other Chinese property developers in the wake of new Chinese regulations on these companies' debt limits. The crisis spread beyond Evergrande in 2021, however, and also affected such major property developers as Kaisa Group, Fantasia Holdings, Sunac, Sinic Holdings, and Modern Land. Following widespread online sharing of a letter in August 2021, in which Evergrande reportedly warned the Guangdong government that it was at risk of experiencing a cash crunch, shares in the company plunged, impacting global markets and leading to a significant slow-down of foreign investment in China during the period August to October 2021. After rumours of financial difficulties surfaced in the summer of 2021, the company unsuccessfully attempted to sell assets to generate money. The company subsequently missed several debt payments and was downgraded by international ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Xu Jiayin
Hui Ka Yan (, or Xu Jiayin in Mandarin Chinese), born 9 October 1958, is a Chinese billionaire businessman, Chairman of the board and Communist Party secretary of the Evergrande Group, a Chinese real estate developer. Hui is the largest shareholder of China Evergrande Group, holding nearly 60 per cent of stock as of December 2021. In 2017, Evergrande Real Estate Group achieved sales of RMB 450 billion (US $69.5 billion). The Guangzhou-based company was China's biggest property developer in 2016, based on sales volume; revenue was 211.4 billion yuan (US$31.8 billion). As of December 2021, Xu has an estimated net worth of $6.2 billion, making him the 462nd wealthiest person in the world, according to ''Bloomberg Billionaires Index'', down from a peak of $45.3 billion in 2017. Early life and education Xu Jiayin was born from a rural family in Jutaigang Village, Gaoxian Township, Taikang County, Henan, on October 9, 1958. His father is a retired soldier who participated in the Sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Evergrande New Energy Auto
Evergrande New Energy Auto () is Chinese automobile manufacturer owned by Evergrande Group. that specializes in developing electric vehicles. History Evergrande was founded on August 28, 2019, and is located in China and Sweden. All of their vehicles are produced by founded marques. Evergrande's primary marque is Hengchi. After acquiring the assets of Saab from a bankruptcy estate in 2012, Evergrande also founded NEVS, while Koenigsegg Koenigsegg Automotive AB () is a Swedish manufacturer of high-performance sports cars based in Ängelholm, Skåne County, Sweden. Company The company was founded in 1994 in Sweden by Christian von Koenigsegg, with the intention of producing ... had a brief cooperation with Evergrande which resulted in Evergrande taking a minority stake (20%) in the Swedish super car brand. References Electric vehicle manufacturers of China Car brands Car manufacturers of China Chinese brands {{PRChina-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nanshan District, Shenzhen
Nanshan District ( ; Cantonese Jyutping: Naam4 Saan1 Keoi1) is one of the nine districts comprising Shenzhen. It encompasses the southwest area of the Shenzhen Special Economic Zone, with a population of 1.08 million. In 2013, the district of Nanshan's local GDP output exceeded 320 billion RMB. The region has an established tourism industry and is home to several sightseeing locations. It is known for being the home of Shenzhen High-Tech Industrial Park, which comprises some of China's largest technology companies and the establishments of well-known international companies, as well as being one of the nation's richest districts. Geography Nanshan District has a total area of . The area continued to increase due to large scale land reclamation, especially in Qianhai and Houhai. The district is located to the northwest of Deep Bay, east of the Pearl River entrance. Its northern boundary is Yangtaishan, which divides the district with Baoan, while it is bounded south by Inner L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020) across a total area of about , Guangdong is the most populous province of China and the 15th-largest by area as well as the second-most populous country subdivision in the world (after Uttar Pradesh in India). Its economy is larger than that of any other province in the nation and the fifth largest sub-national economy in the world with a GDP (nominal) of 1.95 trillion USD (12.4 trillion CNY) in 2021. The Pearl River Delta Economic Zone, a Chinese megalopolis, is a core for high technology, manufacturing and foreign trade. Located in this zone are two of the four top Chinese cities and the top two Chinese prefecture-level cities by GDP; Guangzhou, the capital of the province, and Shenzhen, the first special economic zone in the count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shenzhen
Shenzhen (; ; ; ), also historically known as Sham Chun, is a major sub-provincial city and one of the special economic zones of China. The city is located on the east bank of the Pearl River estuary on the central coast of southern province of Guangdong, bordering Hong Kong to the south, Dongguan to the north, and Huizhou to the northeast. With a population of 17.56 million as of 2020, Shenzhen is the third most populous city by urban population in China after Shanghai and Beijing. Shenzhen is a global center in technology, research, manufacturing, business and economics, finance, tourism and transportation, and the Port of Shenzhen is the world's fourth busiest container port. Shenzhen is classified as a Large-Port Megacity, the largest type of port-city in the world. Shenzhen roughly follows the administrative boundaries of Bao'an County, which was established since imperial times. The southern portion of Bao'an County was seized by the British after the Opium Wars an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guangdong Province
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020) across a total area of about , Guangdong is the most populous province of China and the 15th-largest by area as well as the second-most populous country subdivision in the world (after Uttar Pradesh in India). Its economy is larger than that of any other province in the nation and the fifth largest sub-national economy in the world with a GDP (nominal) of 1.95 trillion USD (12.4 trillion CNY) in 2021. The Pearl River Delta Economic Zone, a Chinese megalopolis, is a core for high technology, manufacturing and foreign trade. Located in this zone are two of the four top Chinese cities and the top two Chinese prefecture-level cities by GDP; Guangzhou, the capital of the province, and Shenzhen, the first special economic zone in the count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guangzhou
Guangzhou (, ; ; or ; ), also known as Canton () and alternatively romanized as Kwongchow or Kwangchow, is the capital and largest city of Guangdong province in southern China. Located on the Pearl River about north-northwest of Hong Kong and north of Macau, Guangzhou has a history of over 2,200 years and was a major terminus of the maritime Silk Road; it continues to serve as a major port and transportation hub as well as being one of China's three largest cities. For a long time, the only Chinese port accessible to most foreign traders, Guangzhou was captured by the British during the First Opium War. No longer enjoying a monopoly after the war, it lost trade to other ports such as Hong Kong and Shanghai, but continued to serve as a major transshipment port. Due to a high urban population and large volumes of port traffic, Guangzhou is classified as a Large-Port Megacity, the largest type of port-city in the world. Due to worldwide travel restrictions at the beginni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wuhan
Wuhan (, ; ; ) is the capital of Hubei, Hubei Province in the China, People's Republic of China. It is the largest city in Hubei and the most populous city in Central China, with a population of over eleven million, the List of cities in China by population, ninth-most populous Chinese city and one of the nine National Central City, National Central Cities of China. The name "Wuhan" came from the city's historical origin from the conglomeration of Wuchang District, Wuchang, Hankou District, Hankou, and Hanyang District, Hanyang, which are collectively known as the "Three Towns of Wuhan" (). Wuhan lies in the eastern Jianghan Plain, at the confluence of the Yangtze river and its largest tributary, the Han River (Hubei), Han River, and is known as "Nine Provinces' Thoroughfare" (). Wuhan has historically served as a busy city port for commerce and trading. Other historical events taking place in Wuhan include the Wuchang Uprising of 1911, which led to the end of 2,000 years of d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine. Methodology Until 1989, it listed only non-United States industrial corporations under the title "International 500" while the ''Fortune'' 500 contained and still contains exclusively United States corporations. In 1990, United States companies were added to compile a truly global list of top industrial corporations as ranked by sales. Since 1995, the list has had its current form, listing also top financial corporations and service providers by revenue. Several inconsistencies exist in ''Fortune'' ranking of cities with the most ''Fortune'' 500 headquarters. On June 3, 2011, the ''Atlanta Business Chronicle'' stated examples of ''Fortune'' including regional headquarters for some cities, excluding regional headquarters for other cities and in some cases excluding headquarte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortune (magazine)
''Fortune'' is an American multinational corporation, multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with ''Forbes'' and ''Bloomberg Businessweek'' in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the Fortune 500, ''Fortune'' 500, a ranking of companies by revenue that it has published annually since 1955. The magazine is also known for its annual ''Fortune Investor's Guide''. History ''Fortune'' was founded by ''Time (magazine), Time'' magazine co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization". Briton Hadden, Luce's business partner, was not enthu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Southern China
South China () is a geographical and cultural region that covers the southernmost part of China. Its precise meaning varies with context. A notable feature of South China in comparison to the rest of China is that most of its citizens are not native speakers of Standard Chinese. Cantonese is the most common language in the region while the Guangxi region contains the largest concentration of China's ethnic minorities, each with their own language. Administrative divisions Cities with urban area over one million in population Provincial capitals in bold. Namesake * South China tiger (southern China) * ''South China Morning Post'' (Hong Kong, South China) * Huanan Seafood Wholesale Market (Wuhan, Central China) See also * Lingnan * List of regions of China ** Southern China *** South Central China South Central China, South-Central China or Central-South China ( zh, c = 中南, p = Zhōngnán, l = Central-South), is a region of the People's Republic of China defi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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