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Guangzhou Court Accepts Evergrande’s Bankruptcy Liquidation Petition

8/21/2026

Summary

Story summary

Guangzhou Intermediate People’s Court accepted the bankruptcy liquidation petition against Hengda Real Estate.
Guangzhou Rural Commercial Bank’s Huaxia branch filed petition, citing inability to pay mature debts.
Shenzhen Intermediate People’s Court sentenced founder Xu Jiayin to life imprisonment for financial fraud and mismanagement.
China Evergrande Group fined 8.82 billion yuan and Evergrande Real Estate fined 7 billion yuan.
Spokesman Huang Haihua announced draft amendments to strengthen bankruptcy protections, filing criteria, reading Aug 25-28.

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Story summary

Guangzhou Intermediate People’s Court accepted the bankruptcy liquidation petition against Hengda Real Estate.
Guangzhou Rural Commercial Bank’s Huaxia branch filed petition, citing inability to pay mature debts.
Shenzhen Intermediate People’s Court sentenced founder Xu Jiayin to life imprisonment for financial fraud and mismanagement.
China Evergrande Group fined 8.82 billion yuan and Evergrande Real Estate fined 7 billion yuan.
Spokesman Huang Haihua announced draft amendments to strengthen bankruptcy protections, filing criteria, reading Aug 25-28.