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EXCLUSIVE-Beijing City In Talks To Rescue Property Firm Phoenix...

2020-12-30T18:54:10Z

GraigGomes61: Created page with " By Zhang Yan, Cheng Leng and Ryan Woo BEIJING, Dec 1 (Reuters) - An investment arm of Beijing's city government is holding talks with shareholders of Phoenix Tree..."

By Zhang Yan, Cheng Leng and Ryan Woo BEIJING, Dec 1 (Reuters) - An investment arm of Beijing's city government is holding talks with shareholders of Phoenix Tree Holdings Ltd, known as Danke, on raising new funds to help turn around the cash-strapped Chinese property rental firm, three sources said on Tuesday. The potential capital injection into the company follows protests by tenants, landlords and contractors in China's biggest cities, including Beijing and Shanghai, that Danke has broken lease contracts and defaulted on payments, according to state media reports. Shares of Danke gained as much as 20% in New York in pre-market trading on Tuesday after news of the potential fund [http://news.sky.com/search?term=raising raising]. They have fallen more than 70% since making their market debut in January. "It's not a bad idea to refinance Danke on its low valuation," said one shareholder involved in the talks, who refused to be named due to the sensitivity of the matter. "It's still one of the largest players in the sector that should bounce back once the pandemic impact fades away." Property rental firms have suffered in the pandemic-induced market slowdown as home rents in major cities fell. Businesses have been hit hard by COVID-19, which has also led to salary cuts and lay-offs of new graduates and [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh] white-collar workers. The potential government-led rescue of Danke reflects growing pressure for local authorities to ease mounting credit stress and social instability caused by rental firms with cashflow problems. Beijing E-town International Investment and Development Co, a private equity firm controlled by the Beijing municipal government, is considering becoming a major investor in the latest round of financing for Danke, said two of the sources, who declined to be named. But U.S. hedge fund Tiger Global Management, the largest Danke shareholder, has expressed no interest in joining such a consortium, which would raise at least $100 million for [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh] Danke, said a third source with direct knowledge of the matter. [http://www.wikipedia.org/wiki/Tiger%20held Tiger held] a 23% stake in Danke as of the end of September, Refinitiv data showed. The shareholders actively involved in the municipal government-led talks include Ant Group Co Ltd , which has invested more than $100 million in Danke, said the source. The fund-raising discussions are yet to close and [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh] are subject to changes, the sources said. Danke and Ant did not immediately reply to emailed requests for comment. Beijing municipal government didn't respond to a faxed query and calls to Beijing E-town and Tiger Global Management went unanswered out of business hours. Danke was managing a total 415,459 flats across China as of the end of March, a 170-fold jump in a period of more than four years, according to its earnings report. 'HIGH-RISK PRACTICES' Beijing-based Danke operates a long-term leasing business in China including in major cities such as Beijing, Shanghai, Shenzhen, Hangzhou and Wuhan. Danke's net loss widened 51% year-on-year in the first three months to 1.2 billion yuan ($182.65 million). The company did not disclose financial results beyond the first quarter. From early November, some landlords, who failed to receive rents from Danke in time, started to evict tenants, many of whom had borrowed to pay off the rents for 12 months to Danke. The Ministry of Housing and Urban-Rural Development said in draft guidelines in September that it would strengthen regulation of rental firms with such "high-risk" practices of collecting large advance payments. The company's market capitalisation stood at $638 million as of Monday. (Reporting by Zhang Yan, Cheng Leng and Ryan Woo; Editing by Jane Merriman, Alex Richardson and Susan Fenton)

See Jade Buddha Temple In Your Shanghai Tours

2020-12-30T17:56:51Z

GraigGomes61: Created page with " The Jade Buddha Temple, a must-see in Shanghai travel, is a Buddhist one in Shanghai, which is perched in the western part of Shanghai. As with many modern Chines..."

The Jade Buddha Temple, a must-see in Shanghai travel, is a Buddhist one in Shanghai, which is perched in the western part of Shanghai. As with many modern Chinese Buddhism temples, the Jade Buddha temple draws from both the Pure Land and Chan traditions of Mahayana Buddhism. If you you are a buddism-lover, paying a visit to the impressive Jade Buddha Temple should never be missed in your Shanghai tours schedule. Founded in 1882 with two jade Buddha statues imported to Shanghai from Burma by sea, it hosts a sitting Buddha and a smaller reclining Buddha representing Buddha's death. What's more, it is also home to a much larger reclining Buddha made of marble, which is donated from Singapore.The centerpiece of the Jade Buddha Temple is the 1.9m-high pale green Jade Buddha, seated upstairs in his own hall. It is said that a Pǔtuoshan monk named Hui Gen traveled to Myanmar via Tibet and lugged back five jade Buddhas to China. After coming back, he [http://www.thefreedictionary.com/sought%20alms sought alms] to build a temple for them. Thereafter, the impressive Jade Buddha Temple was made. The temple was destroyed during the revolution that overthrew the Qing Dynasty. Fortunately the statues were saved and a new temple was built on the present site in 1928. (adsbygoogle = window.adsbygoogle || []).push(); Visitors are not able to approach the statue, but can admire it from a distance. An extra charge of Y10 is needed to see the statue, but photographing is not allowed. In February the temple is very busy during the Lunar New Year, [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html bắc kinh] when some 20,000 Chinese Buddhists throng to pray for prosperity. It is a good place to go whether you believe Buddhism or not, [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh] the peaceful and transcendent atmosphere adds a kind of richness to our busy modern society. This may be the reason why so many travelers home and abroad pay a visit to Shanghai to see it in their luxury China tours despite of fatigue and long journey Whether it is day or night, praying in the Jade Buddha Temple to experience the most tranquil and peaceful ambiance in metropolitan Shanghai would never fail to be a terrific experience to any travelers when they are visiting Shanghai. Now, it has transformed into a must-see attraction in Shanghai China and attracts tens of thousands of tourists home and abroad to pay a visit all year round. So never miss it in your China tours of Shanghai! Bella Wei is an editor from ChinaTour.com, which is a reliable [ ] operator specialized in offering spectrum of China tour packages, such as [ ], [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh] Beijing tours, Shanghai tours, Xian tours, Guilin tours, Yunnan tours and the like to individuals, groups, families, [http://search.usa.gov/search?affiliate=usagov&query=students students] etc..Visit our website to know more about us. (adsbygoogle = window.adsbygoogle || []).push();

User:GraigGomes61

2020-12-30T17:56:45Z

GraigGomes61: Created page with "I'm Graig and I live with my husband and our three children in Burgau, in the BURGENLAND south part. My hobbies are Home Movies, Rock stacking and Singing. Review my pa..."

I'm Graig and I live with my husband and our three children in Burgau, in the BURGENLAND south part. My hobbies are Home Movies, Rock stacking and Singing. Review my page :: [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh]