 |
| Just two years after starting her country garden business in Hong Kong, Yang Huiyan became Asia's richest woman (File Photo: Bloomberg). |
Asia's richest woman has lost half of her fortune in the past year due to the ongoing real estate crisis in China.
Lifestyle954 reported on Thursday with reference to the Bloomberg Billionaires Index that real estate in China is suffering from a severe crisis due to lack of cash.
According to the Bloomberg Billionaires Index, Yang Huian, the owner of the largest number of shares in the Chinese property company Country Garden, had a net worth of $23.7 billion a year ago, which has fallen by more than 52 percent to $11.3 billion. Wednesday.
Ko Yang Huian's financial assets suffered a major blow when Hong Kong shares of Guangdong-based company Country Garden plunged 15 percent.
The company then announced it would sell new shares to raise cash. According to Hong Kong's state media, Yang Huian inherited the fortune when his father, Country Garden founder Yang Guoqiang, died. transferred his shares to him in 2005.
Just two years after starting her country garden business in Hong Kong, Yang Huian became Asia's richest woman. But now he barely occupies the first place.
According to the latest index, the second place among the richest people in Asia is the chemical fiber tycoon Fan Hongwei, whose assets are worth 11 billion 20 million dollars.
It should be clear that the Chinese authorities in 2020 I cracked down on 'excessive debt' in the property sector, which led to major property companies such as Evergrande and Sanac falling into trouble and on the brink of bankruptcy.
China's real estate crisis has prompted buyers across the country to freeze mortgage payments on homes sold before completion in response to delays in the construction of houses and other buildings and the delivery of their properties. is maintained until
 |
| Chinese authorities cracked down on 'excessive debt' in the property sector in 2020 (File Photo: AFP) |
Unlike other companies, Country Garden has been relatively unscathed through the crisis, but investors were spooked by a new announcement from the company on Wednesday, which said Country Garden raised more than $343 million through a share sale.
Accumulation is planned. This plan of sale of shares is partly made to pay off debts. On the other hand, China's banking watchdog has urged lenders to support the property sector and meet firms' "reasonable financing needs".
It should be noted that China's property sector is the country's GDP. P is 18 to 30 percent and is considered a key driver of growth in the world's second-largest economy.
Analysts have warned that China's real estate sector is caught in a 'vicious cycle' of consumer confidence. I will decrease further.
0 Comments