More companies in the Chinese property sector are now caught up in debt. And the poster child for the sector's woes, #Evergrande Group, has missed its third round of #BondPayments in a matter of weeks.

🔥WATCH HERE👉https://youtu.be/KI3rlE62R9k

#Evergrande and other Chinese property giants have sizeable off-balance sheet debt: #JPMorgan

//Investment bank JPMorgan has estimated that troubled Chinese property giant Evergrande and many of its major rivals have billions of dollars worth of off-balance sheet debt that, once added on, ramp up their leverage ratios.

"Instead of true deleveraging, we think Evergrande has shifted some of the interest-bearing debt to off-balance sheet debt," JPMorgan's analysts said. "Commercial papers, wealth management products and perpetual capital securities, etc, which are not officially counted as debt."

They estimated Evergrande's "net gearing," as debt as a ratio of a firm's equity is known, was at least 177% at the end of the first half of the year, instead of the 100% its accounts reported.

"It is possible that the real gearing could be even higher, as data on some off-balance sheet debt is not publicly available," JPMorgan added, saying the "disguised" debt as it called it added up to 55% of Evergrande's overall debt.

Other major firms whose gearing levels were likely to be higher than formally reported included R&F Properties (2777.HK) at 139% versus the 123%, #SunacChina Holdings (1918.HK) at 138% versus 87% reported and #CountryGarden (2007.HK) at 76% versus 50% reported.//

Source: Reuters #Oct7

https://www.reuters.com/business/finance/evergrande-other-chinese-property-giants-have-sizeable-off-balance-sheet-debt-2021-10-07/

#PropertyAnalysis #Economy #Finance #CCPRules #Debt #ChinaMarket #Bubble

Chinese property firms took heavy fire in bond markets on Tuesday after the poster child of the sector's woes, #Evergrande Group, missed its third round of #BondPayments in weeks. And the number of debt-saddled companies rose to four.

🔶 Watch the full episode👉https://youtu.be/KI3rlE62R9k

Chinese property developer #Evergrande is collapsing. But its problems are just the tip of the iceberg. What lies under the water is the now-shaky pillar of the #ChineseEconomy—real estate.

What ugly truth is the Evergrande drama revealing about China’s so-called “economic miracle”? What does an at-risk economy mean for the ruling Chinese Communist Party?

⭕️ Watch the special report on @EpochTV👉https://ept.ms/EvergrandeCrisis5
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Chinese property developer #Evergrande is collapsing. But its problems are just the tip of the iceberg.

In this special report, we look at what Beijing still has left up its sleeve—to convince the Chinese people to ignore widespread issues and human rights abuse, to preserve the economy. And examine exactly how far this teetering #DominoEffect could go.

⭕️ Watch the special report on @EpochTV👉https://ept.ms/EvergrandeCrisis5
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“The risk is not #Evergrande itself… This is metastasizing into other areas.”

Today, we sit down with #China expert #ChristopherBalding, a former professor at Peking University’s HSBC Business School and the Fulbright University Vietnam. We discuss the Evergrande debt crisis, the hidden inner workings of the Chinese economic and financial system, and Beijing’s increasing aggression towards #Taiwan.

👇WATCH NOW on @EpochTV:
https://www.theepochtimes.com/christopher-balding-inside-chinas-evergrande-crisis-the-buildup-against-taiwan-and-the-inner-workings-of-chinas-financial-system_4064946.html

We discuss the #Evergrande debt crisis, the hidden inner workings of the Chinese economic and financial system, and Beijing’s increasing aggression toward #Taiwan.

🔵Watch in-depth videos based on Truth & Tradition at @EpochTV👉 https://ept.ms/EvergrandeCrisis6

The collapse of one of the largest real estate developers in #China, #Evergrande, will have a huge impact on the entire Chinese economy.

🔥Watch Josh’s Live Webinar👉 https://ept.ms/ChinaEconomicCrisis