Shanghai Daily with the news on the very troubled real east group:
- Chinese regulators plan to ban Xu Jiayin, chairman of Evergrande Group, from entering the securities market for life. Xu was accused of "making decisions on and organizing financial fraud," and will be fined 47 million yuan (US$6.63 million).
- Evergrande Real Estate Group will also receive a warning and a fine of 4.18 billion yuan for the issuance of false information in its 2019 and 2020 annual reports, for suspected fraud in its issuance of corporate bonds, and for its failure to disclose required information in a timely manner.
