Are you looking to invest in the growing space sector? Many people are eagerly exploring opportunities as funding rises and costs go down in the private space industry.
This week the People’s Bank Of China added about $15.5 billion of liquidity into the banks to ensure a ‘solid property market’ and quell the fears of homebuyers.
Meanwhile firms like BlackRock and BlueBay have been purchasing Evergrande bonds at discount rates. Despite the number of scandals and seemingly dire situation at Evergrande, it appears that with help of the government and other private firms, a major crisis will be avoided.
Timeline Of Events
-September 1st: Evergrande shares fell on the Hong Kong Stock Exchange as developers revealed they were scrambling to avoid loan default and legal action from creditors.
-September 13th: Angry investors stormed Evergrande headquarters in protest after learning the company would be unable to pay about $305 billion in debt owed to its investors.
-September 21st: Markets respond positively after news that Evergrande reached a deal to avoid debt default.
-September 24th: Reports surfaced that the Evergrande chairman pocketed $8 billion in dividends while forcing employees to lend company cash.
-September 28th: The People’s Bank Of China Promises to Ensure ‘Healthy’ Property Market, proceeds to pump money into the market.
What are your thoughts concerning the Evergrande situation? We hope that you are now more familiar with the Evergrande scandal.
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