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Protesters taken away outside China Evergrande headquarters By Reuters


© Reuters. FILEPHOTO: Protesters gather in front of Evergrande’s Shenzhen headquarters, Guangdong provincial, China on September 15, 2021 to demand the repayments of their loans and financial products. REUTERS/David Kirton

By David Kirton

SHENZHEN, China (Reuters) – Security personnel in the Chinese city of Shenzhen on Thursday took away protesters who gathered outside the headquarters of cash-strapped real estate developer China Evergrande Group.

As the country’s largest property developer, China Evergrande Group is struggling with liquidity and trying to raise money as it hovers between a massive meltdown, managed collapse, and a government bailout.

Disgruntled Evergrande vendors and investors, along with those who claim they owe money to the vendor community, gathered at Evergrande’s southern headquarters.

One protester stated, “Everyday we are here waiting for some kind of policy for ourselves but it doesn’t come so we must stay.”

Uniformed security officers were visible detaining at most two of the approximately two dozen demonstrators and then forming a tight circle around them, locking arms to ensure that no one was able to leave as they removed the other two.

The security guards responded to the occasional shouts of “Evergrande Return our Money” with a banner that read “Police Evidence” and an officer filming protesters.

In the midst of a thunderstorm, a woman crying was seen sitting with remaining protesters. She was then taken away by police to a nearby van.

Hengda Real Estate Group Co Ltd was the main Evergrande unit and applied earlier Thursday to stop trading its corporate bonds offshore. This occurred in response to a downgrade.

Reuters said Monday that 100 protestors had crowded the company’s lobby to demand repayment of financial products and loans.

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