BEIJING (Reuters) – China’s securities regulator has fined China Evergrande Group’s chairman Hui Ka Yan, and plans to ban him from entering the country’s securities market for life over a series of rule violations, the company’s flagship unit Hengda Real Estate said on Monday.
Hengda Real Estate was also handed a fine of 4.2 billion yuan ($583.50 million) over suspected fraudulent bond issues, the company said in a filing to Shenzhen bourse.
($1 = 7.1979 Chinese yuan renminbi)
(Reporting by Ethan Wang and Ryan Woo)
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