Poker Pal of Evergrande Founder Heads for the Exit

The transcript discusses the financial difficulties faced by China Evergrande, including missed bond payments and the reduction of stakes by China Estates. Despite some backing from business associates like Joseph Lau, the company's stock has declined. There are reports of potential asset sales, but key assets remain unsold. The People's Bank of China (PBOC) is injecting liquidity into the financial system to ensure market stability and protect homebuyers' rights.

What financial issue did China Evergrande face according to the bondholders?

• They acquired a new company.

• They declared bankruptcy.

• They missed a coupon payment on dollar bonds.

• They increased their stock value.

Who is Joseph Lau in relation to China Evergrande?

• A billionaire backer

• A government official

• A bondholder

• A competitor

What action did China Estate Holdings take regarding their stake in Evergrande?

• Increased their stake

• Sold all their shares

• Reduced their stake

• Merged with Evergrande

What potential positive news was reported about Evergrande's assets?

• A government bailout

• A successful IPO

• A new partnership with a tech company

• The sale of its life insurance unit

What action did the PBOC take in response to the Evergrande situation?

• Injected more liquidity into the financial system

• Increased interest rates

• Closed down Evergrande's operations

• Imposed sanctions on Evergrande