Investors in financial products issued by China Evergrande Group protested outside the cash-strapped company's offices in Guangzhou on Tuesday, with many worried that their returns would be sacrificed to keep real estate projects afloat.
Protesters seeking payment from China Evergrande Group gather as police officers stand guard outside the Evergrande International Center in Guangzhou, Guangdong province, China January 4, 2022.
More than 80,000 people – including employees, their families and friends as well as owners of Evergrande properties - bought products that raised more than 100 billion yuan in the past five years, said a sales manager of Evergrande Wealth, launched in 2016 as a peer-to-peer online lending platform that originally was used to fund its property projects.
"It's okay for younger people like me, we can still earn it back, but I’m worried about the older ones who put everything into this," she said. Protesters and members of messaging groups of people owed money by Evergrande have said they had been told by police not to cause trouble, and had seen their chat groups blocked.
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