Hui Ka Yan (Xu Jiayin in Mandarin, born 9 October 1958) is a Chinese former businessman and convicted criminal. He founded the Evergrande Group in 1997 and built a wide business empire spanning real estate, sports, entertainment, and beverages. His arrest in 2023, amid the Chinese real estate crisis, ended his prominence. In 2026 he pleaded guilty to charges including embezzlement and corporate bribery and was sentenced to life imprisonment.
Early life
Hui was born into a rural family in Henan province, and his mother died when he was a baby, so he was raised by his paternal grandmother. After high school he worked briefly in a cement product factory and then at home. He resumed the college entrance examination in 1978 and was admitted to the Wuhan Institute of Iron and Steel, now Wuhan University of Science and Technology.
Business career
After graduating he worked at a steel company in Henan and later moved to Shenzhen, then in its early years as a special economic zone, to join a trading company. In 1994 he set up a company in Guangzhou, and in March 1997 he founded the Evergrande Group. At its peak in 2017 his fortune was estimated at $45.3 billion, but it fell sharply as debts grew and the COVID-19 pandemic weighed on the economy. He also owns Guangzhou Evergrande football club.
Downfall
Hui was detained by police in September 2023 on suspicion of illegal activity, and Evergrande shares were suspended from trading. In 2024 he was fined and banned for life from China's markets over revenue overstatement. In August 2026 he was sentenced to life imprisonment, and his personal property was confiscated for fraud, corruption, and embezzlement.