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Transcripts for BBCNEWS BBC News 20220103 04:04:00

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

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