China’s regulator to ban Evergrande chairman from entering securities market for life

By Thomson Reuters Mar 18, 2024 | 7:58 AM

BEIJING (Reuters) – China’s securities regulator has fined China Evergrande Group’s chairman Hui Ka Yan, and plans to ban him from entering the country’s securities market for life over a series of rule violations, the company’s flagship unit Hengda Real Estate said on Monday.

Hengda Real Estate was also handed a fine of 4.2 billion yuan ($583.50 million) over suspected fraudulent bond issues, the company said in a filing to Shenzhen bourse.

($1 = 7.1979 Chinese yuan renminbi)

(Reporting by Ethan Wang and Ryan Woo)