housing enterprises
The core enterprise of Shen Shi and his son is Zhejiang Xingrun Real Estate Investment Co., Ltd. (hereinafter referred to as "Xingrun Real Estate"), and there are many related enterprises or project companies in the local area. This matter quickly attracted the attention of the outside world, and the "collapse" of Xingrun Real Estate was regarded as a sample of the gradual turn of the property market, especially small and medium-sized developers.
according to the official data, out of the 3.5 billion yuan debt, banks have more than 2.4 billion yuan, and private loans with factual evidence have reached 78 million yuan, involving 98 people, including 7 people from government agencies. There are 19 banking institutions involved in the case, which are located in Fenghua, Ningbo and Hangzhou. The largest bank loan amount is CCB, which exceeds 1.2 billion.
the protagonist of xingrun real estate purchase incident is Shen caixing, a native of Xiangshan county, Ningbo city, Zhejiang province, born on October 18th, 1953. Before the incident, he was a member of Fenghua CPPCC and the president of real estate association. He has been engaged in the construction industry since August 1971, and was the former chairman (legal representative) of Zhejiang Xingrun Construction Co., Ltd..
In November last year and January this year, Shen Shi and his son were arrested by the local police on suspicion of illegal fund-raising. At present, the case has been transferred from the local public security to the procuratorate.
21st century business herald reporter learned that the break of the capital chain is not unrelated to Xingrun Real Estate's previous high-priced land acquisition, the slow return of high-end projects and the contraction of bank credit.
Another incident that was ignored by the outside world around Xingrun Real Estate was the murder of Fang, a partner of Xiangshan Meidi Project developed by Xingrun Real Estate. The local police said that it was suicide. Someone close to Fang revealed that Fang was involved in usury, real estate, entertainment and other fields. For Fang' s "suicide", family members are still suspicious.
This is like a chain. Fang's incident uncovered the magic bottle of funds originally concealed by the developer, and Shen Shi's and his son's alleged illegal fund-raising behavior was also exposed, even attracting the attention of foreign media.
on March 18th, the official micro-announcement of the central bank claimed that the report of the Central Bank of China on emergency discussion to rescue small real estate companies was not true, and the People's Bank of China did not participate in the risk disposal related to Zhejiang Xingrun Real Estate.
Some media verified with CCB, the main borrower of Xingrun Real Estate, that the "emergency meeting" was actually a communication and coordination meeting led by the local government and attended by the local banking regulatory bureau, Fenghua Branch of the People's Bank of China and CCB.