China jails Evergrande founder for life, fines firm over US$2 billion
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China jails Evergrande founder for life, fines firm over US$2 billion
China has jailed the founder of property giant Evergrande, Hui Ka Yan, to life in prison and fined the group more than US$2 billion on Thursday (Aug 20). Once the face of China's property boom as it peddled home-ownership dreams, Evergrande defaulted in 2021 after struggling to meet obligations to creditors, suppliers and homeowners. Five other ...
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