Evergrande Is the Third Ccp Real Estate Company to Receive a Winding up Petition

On June 27th, the Judiciary Hong Kong’s website showed that a company located in the Pacific island of Samoa filed a winding up petition against the Chinese-Communist-Party-controlled Evergrande Group. The hearing will be held at 9:30 am on August 31st, 2022.

A winding up petition means that if a company has too much debt, its creditors can file a winding up petition to the court, which will then hold a hearing. If the winding up petition is passed, the court will proceed with the compulsory winding up by ordering the company to sell its assets, pay its debts and distribute the remaining assets. It is understood that beside Evergrande, the other CCP real estate companies that have been petitioned for winding up are Fantasia Holdings Group and DaFa Properties Group Limited.

On one side, Wang Qishan’s Beijing International Trust (BITIC) is under judicial prosecution, and a large number of invalid financial instruments are about to explode. Nn the other hand, the collapse of the real estate market could happen at any time, while Evergrande and others are just the tip of the iceberg.

As Miles Guo has been revealing since 2017, everything about the CCP real estate market is fake and will definitely collapse.