This file photo taken on May 17, 2012 shows Guangzhou Evergrande's chairman Xu Jiayin (L) posing with World Cup-winning football coach Marcello Lippi during a signing ceremony in Guangzhou, southern China's Guangdong province. From rural poverty to real estate billions, the fortunes of Xu Jiayin tracked China's runaway growth for much of the past two decades -- but now he is battling to save his Evergrande conglomerate from a quagmire of debt. - AFP
BEIJING, Sept 12 (AFP): From rural poverty to real estate billions, the fortunes of Xu Jiayin tracked China's runaway growth for much of the past two decades -- but now he is battling to save his Evergrande conglomerate from a quagmire of debt.
The 62-year-old -- also known as Hui Ka Yan in Cantonese -- was at one point China's richest man, with a taste for luxury labels, exclusive yachts and a nose for praising the Communist Party that steered the economy to a home ownership boom.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
