Chinese property giant Evergrande fined $576m for fraudulent bond issuance and illegal info disclosure by CSRC, founder Hui Ka Yan also fined and banned from securities market.
Chinese property giant Evergrande has been fined $576 million for fraudulent bond issuance and illegal information disclosure by the China Securities Regulatory Commission (CSRC). The regulator also fined Evergrande founder Hui Ka Yan 47 million yuan and banned him from re-entering the securities market for life. The fines come as China faces a deepening real estate crisis and the government attempts to restore investor and homebuyer confidence.
May 31, 2024
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