China Evergrande's troubles mount as chairman is suspected of 'illegal crimes'

Posted on AllSides September 28th, 2023
From The Center

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. A day after China Evergrande's shares were suspended in Hong Kong, the beleaguered Chinese property firm revealed that its director and executive chairman is under scrutiny over suspected crimes. Hui Ka Yan "has been subject to mandatory measures in accordance with the law due to suspicion of illegal crimes," Evergrande said in a statement to the Hong Kong Stock Exchange late Thursday. As such, the company's shares will remain suspended until...

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