The Chinese authorities called on Billionaire Hui Ka Yanya – the founder of the problem Chinese developer Evergrande – pay the debts of the developer from his wallet, reports Bloomberg with reference to sources familiar with the question.
According to Bloomberg estimates, Huey’s own capital is $ 7.8 billion, and the total debt is Evergrande – 305 billion dollars. Beijing fears that the potential default of one of the country’s largest developers will affect the global economy, the markets and financial system of China. However, as the agency notes, an attempt to make the billionaire pay the debt of the developer says that the government does not intend to save the company at the expense of the state.
The Directive from the authorities entered the billionaire after the developer missed the period of interest on dollar bonds on September 23. According to sources, local authorities throughout China monitor Evergrande accounts to ensure that the company’s money will be used to complete unfinished objects, and not for debt payment.
The fight against billionaires has become part of the “general prosperity” policy – moderate welfare for all – the head of the PRC of Jinping. He called for the Government to improve the income distribution system between rich and poor citizens of the country. C declared the need for “reasonable adjustment of excessive income” and “promoting high-income groups and business to be closer to society.” So, the Chinese government will force the rich pay more taxes, which will allow to resolve the inequality in income.