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« on: March 04, 2024, 12:13:03 AM »碧桂园遭债权人提起清盘呈请
KEITH BRADSHER2024年2月29日镇江的碧桂园楼盘，摄于2023年。 Agence France-Presse — Getty ImagesCountry Garden, China’s largest real estate developer as recently as 2022, said on Wednesday that a creditor had asked a Hong Kong court to liquidate its operations and pay off lenders, in the latest sign that China’s housing crisis continues unabated.周三，2022年还是中国最大房地产开发商的碧桂园表示，一名债权人已呈请香港法院清算其业务并偿还贷款，这是中国住房危机持续发展的最新迹象。Ever Credit Ltd., a Hong Kong lender, is petitioning the city’s High Court to shut down Country Garden. The court filing involves Country Garden’s failure to repay a loan of $204 million plus interest owed to Ever Credit, the real estate developer told the Hong Kong stock market.香港贷款机构永恒信贷有限公司向香港高等法院申请关闭碧桂园。这家房地产开发商向香港股市表示，向法院提交的诉状涉及碧桂园未能偿还的约16亿港元贷款及利息。Ever Credit’s petition, known as a winding up petition, is meant to force Country Garden to close its doors and sell its assets to make money it can use to pay back its creditors. The move follows a High Court order last month for the liquidation of China Evergrande. Country Garden dethroned Evergrande as China’s largest developer in 2021 when Evergrande endured a financial collapse.永恒信贷的这种申请被称为清盘呈请，意在迫使碧桂园关闭并出售资产，以换取资金偿还债权人。该公司提出呈请前，高等法院在上个月下令清算中国恒大。2021年，恒大遭遇财务崩溃，碧桂园取代恒大成为中国最大的开发商。Country Garden said it would fight the court petition “vigorously,” and that the first hearing on the petition had been scheduled for May 17.碧桂园表示，它将“坚决”反对呈请，有关清盘呈请的首次听证会定于5月17日举行。More than 50 Chinese property developers have defaulted on debts since 2021. They have refused to repay overseas creditors while still making arrangements with Chinese banks for possible eventual repayment.自2021年以来，已有50多家中国房地产开发商出现违约。它们拒绝偿还海外债权人的债务，同时仍在与中国的银行安排可能的最终还款。Many of these developers have shares listed on the Hong Kong stock market or have borrowed there, or both. But creditors face formidable obstacles in seeking to recover loans from Chinese real estate developers through petitions to the court system in Hong Kong, said Zerlina Zeng, the head of East Asia corporate credits at CreditSights, a global credit research firm.其中许多开发商的股票在香港股市上市，或曾在香港借贷，或两者皆有。全球信贷研究公司CreditSights的东亚企业信贷主管泽里娜·曾（音）表示，但债权人通过香港法院系统向中国房地产开发商追讨贷款面临着巨大障碍。Most of the assets of Chinese developers are in mainland China, where courts might not recognize liquidation orders from Hong Kong. Even if mainland courts order liquidation sales of developers’ buildings, China’s increasingly strict limits on moving money out of the mainland could make it hard for creditors to lay their hands on the proceeds of those sales.中国开发商的大部分资产都在中国大陆，那里的法院可能不承认来自香港的清算令。即使内地法院下令清算出售开发商的房产，中国对资金流出内地的限制越来越严格，债权人也很难拿到出售房产的收益。“We do not think that the winding up order would manage to improve the recovery rate” for debt repayment, Ms. Zeng said.曾女士说，“我们不认为清盘令能够提高债务偿还的回收率。”Country Garden essentially ran out of money last October to repay debts. Households in China have cut back sharply on purchases of apartments from private-sector developers like Country Garden as housing prices have slid steeply over the past two years.去年10月，碧桂园基本上已经无力偿还债务。随着过去两年房价急剧下滑，中国家庭已大幅减少购买碧桂园等民营地产商开发的公寓。Without cash from continued sales, developers have been unable to finish construction of millions of apartments that they had presold to buyers all over China. Nomura Securities of Japan estimated last month that 20 million presold homes awaited completion in China, and would require $450 billion to finish.由于无法从持续销售中获得现金，开发商无法完成向中国各地购房者预售的数百万套公寓的建设。日本野村证券上个月估计，中国有2000万套预售房屋等待完工，需要4500亿美元才能竣工。China’s real estate developers relied for many years on selling apartments before they were built, and then using the cash to finish other apartments that had previously been promised to other buyers. But that financial model has fallen apart as households have recoiled from dealings with private-sector developers that are having trouble finishing previous deals.中国的房地产开发商多年来一直依赖于在公寓建成之前将其售出，然后用现金来完成之前承诺交付给买家的其他公寓。但这种金融模式已经瓦解，因为家庭不愿从民营开发商手里购房，这些开发商在完成之前的交易时遇到了困难。Country Garden’s presales of unfinished apartments plummeted 74 percent in the second half of last year from the same period in 2022. And the overall real estate industry’s troubles in China are growing even worse this year, with preliminary data showing that sales plunged another 40 percent at Lunar New Year earlier this month compared to the same holiday last year.碧桂园去年下半年未完工公寓的预售量同比暴跌了74%。今年，中国房地产市场的整体问题更加严重。初步数据显示，与去年春节相比，本月初春节期间的销售额又暴跌了40%。Mainland China is not alone in having real estate troubles right now — they have also spread to Hong Kong. Paul Chan, the city’s financial secretary, said on Wednesday in his annual budget address that he would repeal measures previously intended to curb speculation in Hong Kong apartments.目前，不只是中国大陆的房地产业面临困境，这些问题也蔓延到了香港。香港财政司司长陈茂波周三在其年度财政预算报告中表示，他将废除之前旨在抑制香港公寓投机行为的措施。Keith Bradsher是《纽约时报》北京分社社长，此前曾任上海分社社长、香港分社社长、底特律分社社长，以及华盛顿记者。他在新冠疫情期间常驻中国进行报道。 点击查看更多关于他的信息。翻译：纽约时报中文网点击查看本文英文版。
Source: 碧桂园遭债权人提起清盘呈请
KEITH BRADSHER2024年2月29日镇江的碧桂园楼盘，摄于2023年。 Agence France-Presse — Getty ImagesCountry Garden, China’s largest real estate developer as recently as 2022, said on Wednesday that a creditor had asked a Hong Kong court to liquidate its operations and pay off lenders, in the latest sign that China’s housing crisis continues unabated.周三，2022年还是中国最大房地产开发商的碧桂园表示，一名债权人已呈请香港法院清算其业务并偿还贷款，这是中国住房危机持续发展的最新迹象。Ever Credit Ltd., a Hong Kong lender, is petitioning the city’s High Court to shut down Country Garden. The court filing involves Country Garden’s failure to repay a loan of $204 million plus interest owed to Ever Credit, the real estate developer told the Hong Kong stock market.香港贷款机构永恒信贷有限公司向香港高等法院申请关闭碧桂园。这家房地产开发商向香港股市表示，向法院提交的诉状涉及碧桂园未能偿还的约16亿港元贷款及利息。Ever Credit’s petition, known as a winding up petition, is meant to force Country Garden to close its doors and sell its assets to make money it can use to pay back its creditors. The move follows a High Court order last month for the liquidation of China Evergrande. Country Garden dethroned Evergrande as China’s largest developer in 2021 when Evergrande endured a financial collapse.永恒信贷的这种申请被称为清盘呈请，意在迫使碧桂园关闭并出售资产，以换取资金偿还债权人。该公司提出呈请前，高等法院在上个月下令清算中国恒大。2021年，恒大遭遇财务崩溃，碧桂园取代恒大成为中国最大的开发商。Country Garden said it would fight the court petition “vigorously,” and that the first hearing on the petition had been scheduled for May 17.碧桂园表示，它将“坚决”反对呈请，有关清盘呈请的首次听证会定于5月17日举行。More than 50 Chinese property developers have defaulted on debts since 2021. They have refused to repay overseas creditors while still making arrangements with Chinese banks for possible eventual repayment.自2021年以来，已有50多家中国房地产开发商出现违约。它们拒绝偿还海外债权人的债务，同时仍在与中国的银行安排可能的最终还款。Many of these developers have shares listed on the Hong Kong stock market or have borrowed there, or both. But creditors face formidable obstacles in seeking to recover loans from Chinese real estate developers through petitions to the court system in Hong Kong, said Zerlina Zeng, the head of East Asia corporate credits at CreditSights, a global credit research firm.其中许多开发商的股票在香港股市上市，或曾在香港借贷，或两者皆有。全球信贷研究公司CreditSights的东亚企业信贷主管泽里娜·曾（音）表示，但债权人通过香港法院系统向中国房地产开发商追讨贷款面临着巨大障碍。Most of the assets of Chinese developers are in mainland China, where courts might not recognize liquidation orders from Hong Kong. Even if mainland courts order liquidation sales of developers’ buildings, China’s increasingly strict limits on moving money out of the mainland could make it hard for creditors to lay their hands on the proceeds of those sales.中国开发商的大部分资产都在中国大陆，那里的法院可能不承认来自香港的清算令。即使内地法院下令清算出售开发商的房产，中国对资金流出内地的限制越来越严格，债权人也很难拿到出售房产的收益。“We do not think that the winding up order would manage to improve the recovery rate” for debt repayment, Ms. Zeng said.曾女士说，“我们不认为清盘令能够提高债务偿还的回收率。”Country Garden essentially ran out of money last October to repay debts. Households in China have cut back sharply on purchases of apartments from private-sector developers like Country Garden as housing prices have slid steeply over the past two years.去年10月，碧桂园基本上已经无力偿还债务。随着过去两年房价急剧下滑，中国家庭已大幅减少购买碧桂园等民营地产商开发的公寓。Without cash from continued sales, developers have been unable to finish construction of millions of apartments that they had presold to buyers all over China. Nomura Securities of Japan estimated last month that 20 million presold homes awaited completion in China, and would require $450 billion to finish.由于无法从持续销售中获得现金，开发商无法完成向中国各地购房者预售的数百万套公寓的建设。日本野村证券上个月估计，中国有2000万套预售房屋等待完工，需要4500亿美元才能竣工。China’s real estate developers relied for many years on selling apartments before they were built, and then using the cash to finish other apartments that had previously been promised to other buyers. But that financial model has fallen apart as households have recoiled from dealings with private-sector developers that are having trouble finishing previous deals.中国的房地产开发商多年来一直依赖于在公寓建成之前将其售出，然后用现金来完成之前承诺交付给买家的其他公寓。但这种金融模式已经瓦解，因为家庭不愿从民营开发商手里购房，这些开发商在完成之前的交易时遇到了困难。Country Garden’s presales of unfinished apartments plummeted 74 percent in the second half of last year from the same period in 2022. And the overall real estate industry’s troubles in China are growing even worse this year, with preliminary data showing that sales plunged another 40 percent at Lunar New Year earlier this month compared to the same holiday last year.碧桂园去年下半年未完工公寓的预售量同比暴跌了74%。今年，中国房地产市场的整体问题更加严重。初步数据显示，与去年春节相比，本月初春节期间的销售额又暴跌了40%。Mainland China is not alone in having real estate troubles right now — they have also spread to Hong Kong. Paul Chan, the city’s financial secretary, said on Wednesday in his annual budget address that he would repeal measures previously intended to curb speculation in Hong Kong apartments.目前，不只是中国大陆的房地产业面临困境，这些问题也蔓延到了香港。香港财政司司长陈茂波周三在其年度财政预算报告中表示，他将废除之前旨在抑制香港公寓投机行为的措施。Keith Bradsher是《纽约时报》北京分社社长，此前曾任上海分社社长、香港分社社长、底特律分社社长，以及华盛顿记者。他在新冠疫情期间常驻中国进行报道。 点击查看更多关于他的信息。翻译：纽约时报中文网点击查看本文英文版。
Source: 碧桂园遭债权人提起清盘呈请