Explore stories from Atlantic Canada.
Grandpere’s love builds a Viking ship in West Pubnico | SaltWireHONG KONG - Born into a peasant family in rural China, Yeung Kwok Keung's rags-to-riches tale inspired millions across the country until his Country Garden empire spiralled into crisis this year.
Born in 1955, Yeung founded Country Garden along with four others in 1992, quickly building its scale across China and transforming it into a household name by the early 2000s. Yeung often told people, including in company meetings, he had not worn shoes before the age of 18, sources told Reuters, declining to be identified due to the sensitivity of the matter.
Focusing on less popular, smaller cities in the world's second-largest economy was what made Country Garden successful, as the world's second-largest economy urbanised. Yeung was often promoted as a top philanthropist in China, having, according to Country Garden, donated over 10 billion yuan through his own charity in the past decade to education and poverty alleviation. He has also sponsored the elderly to watch Chinese operas, Xinhua said.
He appeared to take the lead in that fight. Yeung recently loaned the company $300 million interest-free and was also trying to sell his private jets, local media reported last week.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Country Garden founder Yeung, the tycoon who called himself 'dumb'Born into a peasant family in rural China, Yeung Kwok Keung's rags-to-riches tale inspired millions across the country until his Country Garden empire...
Read more »
Country Garden, Evergrande Set Up Two Tense Weeks for CreditorsDefault and liquidation are looming in a matter of days for two companies central to China’s property debt crisis.
Read more »
Explainer-Country Garden: What happens next?Explore stories from Atlantic Canada.
Read more »
Country Garden’s entire offshore debt to be in default if payment not made on TuesdayWith nearly $11-billion of offshore bonds and $6-billion of offshore loans, a default by Country Garden would set the stage for one of China’s biggest corporate debt restructurings
Read more »
Country Garden in Final Hours to Avoid First Dollar Bond DefaultThe clock is ticking for Country Garden Holdings Co. to avert its first-ever public dollar bond default, as the distressed Chinese developer faces the imminent end to a deadline for interest payment.
Read more »
Country Garden's entire offshore debt to be in default if Tuesday payment not madeExplore stories from Atlantic Canada.
Read more »