Published: August 20th, 2021,
Last updated: August 20th, 2021
Hui Ka Yan, the founder of troubled real estate group Evergrande, is stepping down as chairman of Hengda Real Estate. Hui is thus drawing the consequences of a series of failed ventures on the financial market. Hengda is the most important part of the Evergrande company network in the People’s Republic. He is succeeded by Zhao Changlong. Until 2017, Zhao already held the position of chairman. He simultaneously steps up as CEO and will exert extensive control over Hengda during the crisis.