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A new Evergrande about to implode in Xiamen

A new Evergrande about to implode in Xiamen

Operating according to the traditional and outdated logic of real estate developers, Xiamen C & D (Xiamen C&D Group) in turn threatens the financial stability of the sector.

Debt for growth - an old diagram

Xiamen C&D is a real estate company established in Xiamen in 1980 to take advantage of the economic opening of this special zone. She specializes in real estate development. In 2022, she spends 60 billion yuan [8,1M€] to buy land [Land] and emits at the same time, the 26 december, environ 20 billion yuan of corporate bonds. The operation must allow the company to pay off its debts and ensure its working capital.

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