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Hello everyone I am DaYu The Evergrande case has finally gone to trial. Xu Jiayin has been officially charged with eight offenses. He confessed and expressed remorse in court. Facing a severe prison sentence And Evergrande boss Xu Jiayin He has already been arrested for two years and seven months. He not only for having committed evil deeds for so long Also exploited by the Chinese Communist Party's top political leadership Relying on tracing Evergrande's official-business relationships over the past 20 years To target certain high-ranking officials Ma Xingrui, the political bureau member who was just officially removed It is considered deeply involved in the case. Even the current Secretary of the Central Commission for Discipline Inspection, Li Xi, has come under scrutiny. Because Li Xi had previously governed Guangdong Have had contact with Xü Jiayin Li Xi had just seen two of his former aides investigated. It was also quite nerve-wracking for him. So, for today's episode I'll explain the full story behind Xu Jiayin's Evergrande case. Clarify which high-ranking officials may be involved Let you understand this major case that could impact the Chinese Communist Party's political landscape Also, please subscribe to my channel right now And ring the little bell Receive program notifications in a timely manner Also welcome to leave a comment below the program to join the discussion. State your opinion. Or give a thumbs-up to express support First, let's see what happened on April 13th. That Xinhua News Agency bulletin Intermediate People's Court of Shenzhen, Guangdong Province Evergrande Group Evergrande Property and the case of defendant Xu Jiayin A public trial was conducted. The charges brought against Xu Jiayin personally Up to eight items Illegally absorbing public deposits Crowdfunding fraud Illegal loan disbursement Illegal use of funds Securities fraud issuance Unauthorized disclosure of material information Embezzlement Bribery by an organization Then, during the trial Xu Jiayin stated in court that he pleaded guilty and expressed remorse. The court will announce the verdict at a later date. These eight charges Looks like a pile-up of legal jargon But it's actually an anatomical diagram of a business model. Official criminal charges The operational model of Evergrande Group Qualitatively disassemble layer by layer Let's go through them one by one. Illegally absorbing public deposits Plus fundraising fraud Regarding Evergrande Wealth Management products According to previously disclosed statistics on victims Over 100,000 people were caught up in it. Including Evergrande's own employees Owner Suppliers, etc. So many frontline employees was invested under the guise of internal company financial investment Mandatory purchase Later, evil had nowhere to return. Large-scale rights protection incidents Erupting across the country The Evergrande Wealth这条线 It's not that the product has a problem. Rather, the entire fundraising structure itself is illegal. Securities fraud issuance Plus illegal disclosure It refers to financial fraud. This is the history of China's securities market The largest fraud case in terms of amount Illegal loan disbursement plus illegal use of funds Regarding internal fund misappropriation Embezzlement of duty Treating the company's money as if it were their own money Bribery by an organization Referring to the past and local governments Gray channels of financial institutions In other words The official characterization is Evergrande was not brought down by the market Rather, it is illegal operation from the inside out. Once this qualitative assessment is confirmed Throughout the real estate industry Business models over the past 20 years It is a historic ruling. That individual, Xu Jiayin From 2017 to 2019 An average annual dividend distribution of over 10 billion Over several years, a cumulative total of over 50 billion These funds A portion from borrowed funds It's like using a lever. Distribute dividends to yourself and shareholders Further increased the debt Treating a company like an ATM Leaving the risk to society It has long existed in the gray area in the past. Currently charged with eight criminal offenses, each specified individually Amounts to an official and formal announcement This path can no longer be taken. So the question arises Why Xu Jiapeng Was taken away in September 2023 It was finally scheduled for trial in April 2026. Exactly two years and seven months The authorities never provide explanations. But from publicly available information Article 1 Completing construction projects is more important than sentencing. The Evergrande project is scattered across hundreds of cities nationwide. Many real estate projects Due to a funding breakdown It's been parked for several years. Resumption of work involves signing financing contracts. Transfer of Assets Xu Jiayin used to be in charge before. He is currently in the detention facility. Review and sign by written means Allow some items to be moved forward If they had decided earlier The program might get stuck procedurally. The risk of the real estate project being completely halted Even larger This is a very realistic trade-off. Xu Jiayin is alive And furthermore, in conjunction with Lock him up, not someone else. A stay of execution For more people More useful Then the second line Recovering stolen assets overseas requires him not to turn against us. The funds of Evergrande that can be realized overseas Only a few hundred million dollars Compared to the total debt of twenty trillion It's like trying to put out a fire with a cup of water—completely inadequate. After someone breaches the family trust took over 33 overseas companies Seven bank accounts remaining But Xu Jiayin has consistently refused to fully disclose it. Property details As of July 2025 The total amount of debt received by the infringer Around HK$350 billion However, the cash conversion amount is only HK$2 billion. approximately 167 million U.S. dollars Achieved return to the cage That number already makes it clear. Pursuing the recovery of stolen assets overseas basically yields little result. That the trial is scheduled to be held at this very moment means ensuring delivery of completed homes And these two lines regarding pursuing and recovering assets overseas The squeezing is about done. Its instrumental value has been exhausted. I will now share more with you. Details of the Evergrande case including how it became A deep-sea bomb in the Chinese Communist Party's bureaucratic arena Our advanced section on work-related injuries Talk about it as soon as you get back. Please don't leave. 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Moderate consumption The serving size can be adjusted according to individual needs. You can click now Buy via the links below my show Use a coupon code at checkout DY2023 Enjoy global free offers Good Then go on. Confessing to crimes and destroying evidence within the country A striking contrast It is Xu Jiayin's attitude in the Hong Kong court. Hong Kong High Court in February 2026 Rejected all appeals filed by Xu Jiayin Issued the final ultimatum Require him to do it before February 20th Paying approximately HK$12 million in litigation fees Otherwise, deprive the right to defense That's Xü Jiāyìn's main workshop in Hong Kong. It revolves around his ex-wife Ding Yumei. $167 million divorce settlement and through more than ten offshore companies Indirect control Assets potentially involving a family trust structure What is worth noting is The liquidator appointed by the Hong Kong High Court In this case Achieved for the first time Piercing and takeover of family trusts Several lawyers pointed out This is the history of the Hong Kong judiciary For the first time in a major case Clearly delineated the effectiveness of offshore trust asset segregation Legal boundaries Many Chinese billionaires in the past believed As soon as assets are placed into a trust A lawless land Theoretically, not even divorce or bankruptcy can touch it. Then the Xü Jiayin case amounts to an announcement This gameplay style In the context of clear criminal fraud Cannot be blocked by foreign courts' jurisdictional reach So you can see two sets of strategies. Xu Jiayin of the domestic region has confessed to the crime. Seek leniency in sentencing by actively cooperating with the investigation. He refuses to cooperate overseas. Every inch of land must be fiercely defended. Drag it out for one more day if possible. The logic of the博弈 on both sides is completely different. Yet they all point toward the same goal. Just try to preserve the family fortune as much as possible. Now, Xu Jiayin has admitted guilt in court. Why is it said that this statement carries such weight? In the context of China's criminal trial proceedings Means three things First There will be no fierce arguments. The court will not appear. Financial fraud techniques On divorce and asset division Public Governance of Offshore Trust Structures Those most sensitive details Will not enter public records Then the second The case proceeded through the leniency channel for guilty pleas and penalty acceptance. Theoretically, the sentence can be mitigated. But for a case of Xu Jiayin's magnitude A more likely meaning is to expedite the verdict. Reduce variables Then the third These four characters also convey a signal. Xu Jiayin has already finished explaining everything that needs to be explained. Won't recant again Won't bite anyone back anymore Can be concluded From the perspective of the entire Chinese business environment Today is the day of the hearing for the Evergrande case. Four signals were released. Shaking the entire industry The first signal Too big to fail This rule has already become invalid in China. The past 20 years The real estate sector is regarded as the stabilizing force of China's economy. Head Developer Default protection of systemic importance The second signal Retrospective accounting for financial fraud Has reached a new level That Xu Jiayin, as the mastermind Fined 47 million yuan and was permanently banned from entering the securities market Plus the current criminal trial This affects A-shares And Hong Kong stocks All listed company management personnel They were all major earthquakes. The third signal Offshore trusts are no longer Noah's Ark The Hong Kong High Court's approach of穿透-style takeover Wealth succession structures for all Chinese billionaires They are all warning signs. The fourth signal The creditor's hope of receiving money remains slim. Domestic criminal judgments are even more severe. Can't conjure money either. Those over 100,000 investors of Evergrande Wealth Countless homeowners who have purchased unfinished buildings Suppliers Drained to the Point of Collapse What arrived was an open trial. But most likely won't wait for a complete compensation The above are the economic and judicial aspects. That's when the case truly begins. The truly most critical part It remains a burning grenade in the political arena. First, take a look at this document regarding Xu Jiayin. Those who have fallen from the long list In 2021, Evergrande defaulted. September 2023 Before and after Xu Jiayin was taken away Former Secretary of the Guizhou Provincial Committee of the Communist Party of China, Sun Zhiqiang Li Xiaopeng, former chairman of Everbright Group Former行长 of the Bank of China, Liu Lianke And former Liaoning Provincial Governor Tang Yijun Former Hubei Provincial Party Secretary Jiang Chaoliang, among others Several high-ranking officials have fallen one after another. And was exposed by mainland Chinese media Closely related to Xiu Jiayin Then Sina.com published an article in September 2024 The provincial governor and party secretary involved in the Xu Jiayin case Has been arrested To be reissued in February 2025 Xu Jiayin has exposed the mastermind behind the scenes. A large number of high-ranking officials have been brought down. The ultimate protective umbrella has finally come to light. Note: This is Sina Not a foreign media outlet The authorities tacitly approve of the mainland portal setting this tone. Amounts to a semi-public admission The narrative of Xu Jiayin revealing the list The structure of this list is also very clear. One side is financial commentary. ICBC (Industrial and Commercial Bank of China) Everbright Securities One is a high-ranking local official. Guizhou, Liaoning, Hubei, Guangdong Exactly corresponds to Evergrande's borrowing Acquiring land and building cars The critical nodes of these three industrial chains Borrowing money requires a financial institution. Acquiring land requires high-ranking local officials Car manufacturing requires industrial personnel. Behind each ring Corresponding officials have all been dealt with. Xinhua News Agency reported on April 3rd Central Rural Work Leading Group Deputy Director Ma Xingrui Accused of serious violations of discipline and law Accept the Central Commission for Discipline Inspection and the National Supervisory Commission Disciplinary review and oversight investigation He became the 22nd leader of the Chinese Communist Party. After He Weidong and Zhang Youxia The third political commissar to fall while in office Ma Xingrui's resume is quite unique. He is from the aerospace engineering department. Early in his career, he served at China Aerospace Science and Technology Corporation. The company's general manager A typical technocrat from the military-industrial complex Later transferred to a local position Served as Deputy Secretary of the Guangdong Provincial Committee of the Communist Party of China in 2013. Secretary of the Shenzhen Municipal Committee Appointed Governor of Guangdong Province in 2017 Transferred to serve as Secretary of the Xinjiang Uygur Autonomous Region Committee of the Communist Party of China in 2021 Entered the Central Political Bureau in 2022 What about this path? He is one of the rare technical bureaucrats from the military industry sector. Typical cases of individuals reaching the level of Politburo member Overseas analysts believe Ma Xingrui is regarded as a favored figure of President Xi Jinping and his wife. especially referred to as the wife of Peng Liyuan Mr. Gan Zheng's esteemed wife Why would Ma Xingrui be linked to Evergrande? The timeline is very precise. November 4, 2015 Current Vice Secretary of the Guangdong Provincial Committee of the Communist Party of China Shenzhen Municipal Party Secretary Ma Xingrui Meeting with Xu Jiayin, Chairman of the Board of Evergrande Over the following more than a year Evergrande quietly moved its headquarters from Guangzhou to Shenzhen. Relocating the headquarters means tax revenue. Comprehensive transfer of land policy incentives Such a level of relocation Without the city party secretary's approval, it can't be done. Then Xu Jiayin to this influential figure Ma Xingrui How much profit was transported? The outside world has no way of knowing. But working backwards from this result This line is thick enough. June 2019 Evergrande signed an agreement with the Guangzhou municipal government. Developing the new energy vehicle industry In the same month, Tang Yijun, then Governor of Liaoning Province, made an appearance. The Shen Yun municipal government signed an agreement with Evergrande. Invest $120 billion to build a new energy vehicle base That Ma Xingrui from Guangdong And Tang Yijun from Liaoning Province North and south Became the two key figures in Xu Jiayin's automotive venture, one in the north and one in the south. Tang Yijun had already fallen in April 2024. Ma Xingrui Removed from the position of Xinjiang Party Secretary in July 2025 Officially announced on April 3, 2026 North and South Xu Jiayin's two benefactors were born almost simultaneously. This cannot be described as mere coincidence. and the current member of the Political Bureau Standing Committee Li Xi, Secretary of the Central Commission for Discipline Inspection That is, theoretically, the enforcer of anti-corruption. But from 2017 to 2022 Governor of Guangdong Party Secretary of the Provincial Committee What about that period? Ma Xingrui serves as provincial governor. The two of them have worked together for four years. So then? When the line connecting Evergrande and Ma Xingrui is burned upward Li Xi has become a person of major suspicion. stakeholder What about that specifically? Before governing Guangdong Li Xi, hey Has also long been in charge of Liaoning province That was when Xu Jiayin was active. Another province According to the latest news Li Xi has at least two The former associates from Liaoning have recently been investigated. The first one was January 18, 2026. The Legislative Affairs Committee of the People's Congress of Liaoning Province Former Chairman Zhou Liyuan Suspected of serious violations of discipline and law Undergo investigation What about Zhou Liyuan? Former governor of Liaoning Province Li Xi's chief steward Retired in January 2018 Eight years after retirement Seventy-one-year-old Zhou Liyuan Officially announced for investigation The Grand Steward in the Chinese Communist Party's officialdom A servant's role What about Deng Jia Nu? It's about striking the mountain to frighten his master. Second time April 13, 2026 On the same day that the first trial of the Evergrande case began CCTV Report Liaoning Provincial Transportation Construction Investment Group Former Party Secretary of a Limited Liability Company Chairman Xu Daqing Undergo disciplinary review and supervisory investigation What about Liaoning Jiaotou? It is the core of local infrastructure financing platforms. It happens to be the financial matching between real estate developers and local governments. The most typical interface Both actions point to Li Xi. Governor and Secretary of Liaoning Province The power structure of that period What about the overseas leaks? Ma Xingrui's case is ranked first by the Central Commission for Discipline Inspection. Deputy Secretary Liu Jinguo Full authority to handle Li Xi and his family set up the Ma Xingrui case Another 51 vice-ministerial-level officials have been placed under investigation. There are also rumors saying Li Xi's wife once had a relationship with Rong Li, the wife of Ma Xingrui. The consortium reaped substantial profits. So now, looking back April 13th to 14th This judgment by the Shenzhen Intermediate People's Court It is not just a financial fraud case Judicial procedure It marks the conclusion of a larger political operation. Its chronological order really illustrates the issue. September 2023 Xu Jiayin has been placed under residential surveillance at a designated location. April 2024 Tang Yingjun, dubbed Xu Jiayin's northern benefactor, has fallen from power. July 2025 Ma Xingrui removed from post of Party Secretary of Xinjiang January 18, 2026 Zhou Liyuan is under investigation Li Xidahuguan has gotten into trouble April 3, 2026 Ma Xingrui officially falls from power The so-called Southern Nobleman's downfall April 13, 2026 Xu Daqing was investigated A disaster occurred in Liaoning Jianguan County. What about that same day? It is the first day of the trial for the Evergrande case. April 14, 2026 The second day of the Hengda case trial Xu Jiayin confessed and expressed remorse in court. What do you think? The trial commenced on the 10th day after Maxingrui fell ill. Xu Daqing was investigated. About the court hearing, you know? Announced on the same day That's Xú Jiāyìn admitting guilt and expressing remorse. What about these three time points? It was just too perfectly stuck. A reasonable inference is That's how Xu Jiayin has been living for the past two years or so That in itself is a tool. He was retained To expose the list Help assemble the evidence Crack down on the big tigers with evidence-based measures Circle them one by one. Once the maximum value of this tool has been squeezed out Target of Ma Xingrui, a level equivalent to a member of the evidence committee Has been taken down He was only allowed to enter the judicial process then. So standing on April 13th At this point in time, looking back That economic aspect The Evergrande case is the most significant event of the past 20 years. Real estate with high leverage Pre-sale orders snowballing Offshore Trust Risk Management Model Drew a judicial conclusion That judicial aspect Officially charged with eight criminal counts This set of patterns Completely characterized as illegal and criminal rather than business failure That political aspect That list of Xu Jiayin's long-term associates became the target of the purge. From a local dignitary to a member of the political bureau Even affecting the Secretary of the Central Commission for Discipline Inspection, Pang Xi Indexing tool Those three layers stacked together This is not merely a trial of Evergrande. but rather a scheme exploiting Evergrande Conducting a political trial Xu Jiayin is highly likely to receive a severe punishment. The most severe penalties are life imprisonment or suspended death sentence. He is now awaiting judgment. Yet his personal fate It's no longer this play. The most important part of the performance The greater significance of this case of his is connected to a series of Beijing's top leadership The Power Struggle Still Unfolding Even including interest The following few months If there is someone even higher up Suddenly something went wrong Looking back at today's court session You will then know That was just an overture. Those over 100,000 investors of Evergrande Wealth Countless homeowners who have purchased unfinished buildings Suppliers Drained by Delays They waited until they arrived. It seems to be a public trial. But most likely won't wait for a complete compensation. This is under a communist society. The coldest aspect of this case Alright, that's it for today's episode. Also please like and share our current episode. I also welcome you to tell me in the comment section You think Which big tiger will be in trouble next? 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