Evergrande’s RMB 5 billion refund – Thatsmags.com

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A weekly roundup of all the latest news related to Guangzhou.

Chinese group Evergrande pays 5 billion RMB

picture via Weibo

China Evergrande Group, under the brand the most indebted developer in the worldwill receive a reimbursement of 5.52 billion RMB from the city of Guangzhou for the return of the land which was to be used to build a football stadium.

The stadium was to become the new home of Guangzhou Football Club, formerly known as Guangzhou Evergrande Taobao Football Club.

Guangzhou R&F 2021 Net loss of RMB 17 billion

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Picture via Weibo

There must be something in the water that Guangzhou property developers are drinking.

Guangzhou R&F has informed investors this net loss for 2021 could reach 17 billion RMB.

The company announced that it would set aside an additional RMB 6.9 billion for impairment.

Global Hip-Hop Competition in Guangzhou

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The World Hip Hop International (HHI) China 2022 competition started in Guangzhou on August 10.

The competition takes place in two stages: the China Hip Hop Dance Championship and the China World Battles.

With Chinese borders remaining firmly closed, only foreigners currently in China are allowed to represent their country.

Vertical marathon in the tallest building in Guangzhou

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Picture via Weibo

A vertical marathon was tenuous in the 530-meter-high Chow Tai Fook Financial Center on August 7.

Located in Zhujiang New Town in Guangzhou, Chow Tai Fook Financial Center is a 109-story building with over 3,000 steps.

Liu Zhisen was the fastest to finish the race, with a time of 17 minutes and 33 seconds, averaging one floor every 9.6 seconds.

[Image via Wikimedia]


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