China Evergrande Crisis: Detained Chairman's Secret Struggles

Hui Ka Yan, chairman of China Evergrande Group, has been moved to a special detention center in Shenzhen, as the property giant faces a crisis. He has not been publicly seen since his detention a year ago. Evergrande's liquidation and securities fraud scandals highlight China's property sector's troubles.

Hui Ka Yan, the chairman of China Evergrande Group and a significant figure in the nation's property sector crisis, has been moved to a special detention center in Shenzhen. Sources with knowledge of the situation confirmed the transfer.

Hui, aged 65, disappeared from the public eye after Chinese authorities detained him last year. Evergrande's flagship unit faced allegations of inflated earnings and securities fraud, resulting in a $6.6 million fine and a lifetime ban from the securities market for Hui. The company was ordered into liquidation at the beginning of the year.

Despite his previous status as China's richest man, Hui has not faced formal charges. His future—whether he will be released or tried—remains uncertain, reflecting a troubling pattern among detained business executives in China. While Hui's detention conditions in Shenzhen reportedly include medical care and decent food, the larger issues surrounding Evergrande's debt and management of wealth products continue to loom large.

(With inputs from agencies.)