Guangzhou News Round-Up: Evergrande’s RMB5 Billion Refund

By That's Guangzhou, August 12, 2022

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A weekly round-up of all the latest Guangzhou-related news. 

China Evergrande Group’s RMB5 Billion Refund


image via Weibo

China Evergrande Group, branded as the world’s most indebted developer, will receive an RMB5.52 billion refund from the city of Guangzhou for returning land that was set to be used to build a football stadium. 

The stadium was set to be the new home of Guangzhou Football Club, previously called Guangzhou Evergrande Taobao Football Club. 

Guangzhou R&F 2021 Net Loss of RMB17 billion


Image via Weibo

There must be something in the water that Guangzhou property developers are drinking. 

Guangzhou R&F has warned investors that net loss for 2021 could widen to RMB17 billion.

The company announced that it would set aside another RMB6.9 billion for impairment loss. 

World Hip Hop Competition in Guangzhou 


The 2022 World Hip Hop International (HHI) China competition started in Guangzhou on August 10.

The competition is spread across two stages: the China Hip Hop Dance Championship and World Battles of China.

Due to China’s borders remaining firmly closed, only foreign people currently in China are allowed to represent their country. 

Vertical Marathon in Guangzhou’s Tallest Building


Image via Weibo

A vertical marathon was held in the 530 meter-high Chow Tai Fook Financial Center on August 7. 

Located in Guangzhou’s Zhujiang New Town, the Chow Tai Fook Financial Center is a 109-story building with over 3,000 stairs. 

Liu Zhisen was the fastest to complete the race, with a time of 17 minutes and 33 seconds, averaging one floor every 9.6 seconds. 

[Image via Wikimedia]

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