What to Know About the Detained Billionaire at the Center of China’s Property Crisis ...Middle East

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What to Know About the Detained Billionaire at the Center of China’s Property Crisis
Hui Ka Yan, the founder of China Evergrande Group that’s at the epicenter of China’s property crisis, has been put under police control, suggesting the firm may have entered a new phase involving the criminal justice system. The move adds to questions over the future of the world’s most indebted developer after setbacks to its restructuring plan in recent days roiled financial markets and raised the risk of a liquidation. It also casts doubt on the fate of the 64-year-old billionaire himself. Here’s everything you need to know about the rise and fall of Evergrande’s rags-to-riches founder: Who is Hui Ka Yan? When Chinese President Xi Jinping marked the centenary in 2021 of the Communist P

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