Evergrande's interest bearing liabilities fell by 300 billion a year

On June 29, the reporter learned from Evergrande group that at present, Evergrande's interest bearing debt is about 570 billion yuan, which is about 300 billion yuan lower than last year's peak of 870 billion yuan.

In March 2020, Evergrande announced the implementation of the development strategy of "high growth, scale control and debt reduction". With the greatest determination and strength, Evergrande will achieve debt reduction by selling high growth and strictly controlling the scale of land reserve. Xu Jiayin said at the performance meeting at that time that Evergrande's interest bearing liabilities would drop by 150 billion every year, 450 billion in the next three years, and now 300 billion in the past year alone. It not only successfully realized Xu Jiayin's commitment to reduce the total interest bearing liabilities to "5" by June 30 this year, which was put forward at the strategic partner exchange meeting at the beginning of this month, but also far exceeded the market expectation.