A court in Shenzhen has sentenced China Evergrande Group founder and former chairman Hui Ka-yan, also known as Xu Jiayin, to life imprisonment for “multiple combined crimes”, confiscating all Hui’s personal property.Meanwhile, Evergrande was fined 8.82 billion yuan (US$1.3 billion), while its onshore operating unit Hengda Real Estate was fined 7 billion yuan – one of the biggest corporate fines levied by a court for criminal charges in Chinese history.More to follow...Advertisement