conservation will never be forgotten. the conservationist richard leakey, who has died at the age of 77. the chinese property giant evergrande has once again suspended trade of its shares on the hong kong stock exchange as investors await news on its restructuring plan. a statement did not give a reason for the move, but the company has more than $300 billion of debts. last week evergrande dialled back plans to repay investors in its wealth management products. to find out more, i ve been speaking to mariko oi in singapore. well, david, as you said, the company didn t say why its shares are being suspended. and i have to say, for many months now it s been incredibly difficult to know what s happening with evergrande. but if you speak to experts who ve been watching china closely, this is exactly how
we know about this decision? well, david, as you said, the company didn t say why its shares are being suspended. and i have to say, for many months now it s been incredibly difficult to know what s happening with evergrande. but if you speak to experts who have been watching china closely, this is exactly how beijing wants to handle its debt crisis. because remember, it was the chinese communist party which change the rules as to how much money those developers could borrow, and it is pretty obvious that they knew that evergrande and other developers would be in trouble, but they wanted to send a clear message that what they considered reckless expansion of the sector could not continue, and they didn t want to bail out evergrande or its billionaire founder, for that matter, because it would go against the common prosperity slogan that president xi has repeatedly talked about to fairly distribute the wealth across the country. at the same time, beijing wants to avoid this becoming chi
this massive news headline, if you like. no, and as you say, if we don t know the direct reason, we have to be a bit careful about what one might speculate. the point though, mariko, surely is also this: it is the biggest or second biggest developer in china. i mean, it s absolutely huge. there are a vast number of individuals and businesses and building companies who have an awful lot invested in its success, so if it were to go under, it would be difficult to avoid the sort of tremors across the economy, wouldn t it? exactly, and that is why beijing wants to make sure that it doesn tjust collapse. and it s been very clear that the priority is the ordinary citizens who may have bought property units from evergrande, for example. so the company and authorities have repeatedly said that they will finish those units so that those
rest of the economy and beyond. so as opaque as it seems to the rest of us, evergrande continues to be restructured rather quietly, slowly, with the supervision of the chinese authorities, and we will probably hear bits and pieces, but we won t have this massive news headline, if you like. know, and as you say, if we don t know the direct reason, we have to be a bit careful about what one might speculate. the point, though, mariko, surely is also this. it is the biggest of the second biggest developer in china. it is absolutely huge. there are a vast number of individuals and businesses and building companies who have an awful lot invested in its success, so if it were to go under, it would be difficult to avoid the sort of tremors across the economy, wouldn t it? wouldn t it? exactly, and that is why beijing wouldn t it? exactly, and that is why beijing wants - wouldn t it? exactly, and that is why beijing wants to - wouldn t it? exactly, and that is why beijing wants to make | is
but those setbacks never got in the way of his love of scientific discovery and his love of africa. he was described as a visionary whose great contributions to human origins and wildlife conservation will never be forgotten. we will have a close friend giving a tribute later in the programme as well. stay with us for that. some developing news now: the chinese property giant evergrande has suspended trade in its shares as investors await news on its restructuring plan. a statement to the hong kong stock exchange did not give a reason for the move, but the company has more than $300 billion of debts. last week evergrande dialled back plans to repay investors in its wealth management products. let s get more on this from mariko oi in singapore. thank you forjoining us. what