IN what is believed to be one of the country’s largest real estate deals Air Max 270 Sale , Sunac China Holdings Ltd is to acquire hotels and cultural and tourism projects from Dalian Wanda Group for 63.2 billion yuan (US$9.3 billion).
A joint statement on Wanda’s website yesterday said Sunac, one of the country’s largest real estate developers, is to pay 29.6 billion yuan for a 91 percent stake in 13 Wanda projects while 33.6 billion yuan will be spent purchasing 76 Wanda hotels including in Beijing and Wuhan.
Wanda Chairman Wang Jianlin told financial magazine Caixin that the deal would cause debt at Wanda’s commercial property arm to “drop greatly.”
He was quoted as saying: “The funds returned from this will all be used to pay back loans. Wanda Commercial plans to pay back the majority of bank loans within this year.”
Wanda was among the most acquisitive players in a flood of Chinese money overseas that raised concerns over “irrational” investments.
The Sunac deal highlights a quandary faced by Chinese corporations that bet big on overseas acquisitions but now face difficulty paying off debts.
Wanda admitted last month that China’s banking regulator was looking into potentially risky loans it held.
It said other domestic companies that invested aggressively overseas were also being scrutinized, including Rossoneri Sport Investment Lux — a consortium that purchased football club AC Milan — Club Med’s owner Fosun Group, and HNA Group.
The Sunac deal indicates that “Wanda is running out of options to raise funds through normal financing channels Cheap Nike Air Max 270 Hot Punch ,” said Ivan Han, a Shanghai-based analyst with financial information provider Morning Whistle.
“Financial institutions don’t really want to keep lending money to firms that are targeted by regulatory scrutiny. It doesn’t mean their businesses are in trouble. They are just adjusting their financing chains.”
But China is likely to see more such deals as companies are forced to pay for rapid expansion, said Michael Every, senior Asia-Pacific strategist for Rabobank.
“Remember Japan in the 1980s?” he said, referring to Japan’s asset bubble.
In recent years Cheap Nike Air Max 270 Light Bone , companies were encouraged to invest overseas to find new markets, access technology and increase influence.
But regulators have been monitoring the tendency of “irrational” overseas investment in some areas, such as real estate, hotels, film Cheap Nike Air Max 270 OG , entertainment and sports clubs. Authorities are also moving aggressively to corral alarming levels of debt and risky lending amid warnings of a potential financial contagion in the world’s second-largest economy.
Wanda, which diversified from commercial property into entertainment, theme parks and sports, was at the forefront of the overseas push, spending billions to acquire companies like US-based cinema chain AMC Theaters and Hollywood studio Legendary Entertainment.
Yesterday’s announcement marks the latest aggressive move by fast-growing Sunac Cheap Nike Air Max 270 Flyknit , which is run by billionaire Sun Hongbin and since last year has purchased dozens of property projects across China.
In January, it came to the rescue of cash-strapped Chinese tech firm LeEco with a US$2.2 billion investment lifeline.
TEHRAN, Jan. 8 (Xinhua) -- Iran has started mass production of its independently developed Sa'eqeh fighter jets, Tehran Times daily reported on Thursday.
Sa'eqeh (Thunderbolt) fighter jets would satisfy the needs of Iran's air force for the time being and "it would be altered and modified in line with the requirements," a high-ranking air force official was quoted as saying.
Sa'eqeh is an Iran-built single-seat fighter jet Cheap Nike Air Max 270 , which is derived from the American Northrop F-5 fighter jet with two vertical stabilizers instead of one. A joint product of Iran's air force and the Defense Ministry, Sa'eqeh was successfully tested on Sept. 20, 2007.
Iran has announced that the Sa'eqeh is a combat plane with high maneuvering capability and is capable of bombing close ground targets. The fighter-bomber has a range of 3,000 km and can track down enemy aircraft and carry a variety of weapons and ammunition.
In September 2010, Iran displayed the first squadron of the Sa'eqeh fighter jets during an air show.
In September 2012 Cheap Air Max 270 Hot Punch , the air force said the new generation of home-made Sa'eqeh fighter jets are more advanced than the previous versions and had been optimized by Iranian specialists. The new aircraft could be equipped with enhanced ammunition, smart bombs and modern electronic systems.
DHAKA, Nov. 12 (Xinhua) -- The number of Bangladesh students appearing in the HSK, Hanyu Shuiping Kaoshi or the Chinese Proficiency Test, has shot up.
Scores of students on Saturday appeared in different levels of HSK examinations held at the Dhaka University Confucius Institute in Bangladesh capital Dhaka.
"Today we conducted HSK level 2 Cheap Air Max 270 Light Bone , 3 and 4 examinations," Zhou Mingdong, director at Dhaka University Confucius Institute told Xinhua.
She said some 63 students from the Dhaka University Confucius Institute and other Bangladesh educational institutes appeared in the examinations Saturday.
She said more and more students have been showing interest to learn Chinese language and appear in different levels of HSK examinations to test their Chinese ability to face practical and real-life situations.
The Dhaka University Confucius Institute has become a prime destination for Chinese language learners, she said.
"We'll hold another HSK examination next month for students of other levels," she added.
The HSK Cheap Air Max 270 OG , designed and developed by the HSK Center of Beijing Language and Culture University, is one of the most important academic testing systems in relation to Chinese language study around the world.
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