Evergrande chairperson under scrutiny for offshore asset transfers
China Evergrande Group’s chairperson, Hui Ka Yan, is in hot water as he’s being investigated for possibly moving assets offshore. This comes at a time when the debt-ridden property developer is trying to finish projects and restructure its offshore debt, according to the Wall Street Journal. With over $300 billion in liabilities, Evergrande has become the poster child for China‘s property sector debt crisis. The investigation into Yan’s actions only adds more fuel to the fire.