Evergrande Group founder Xu Jiayin has been sentenced to life imprisonment, sparking widespread discussion about the fate of private entrepreneurs in China and the attitude of the Chinese Communist Party (CCP) toward private capital.
Xu Jiayin, former chairman of Evergrande Group, was sentenced to life imprisonment, and his two sons, Xu Zhijian and Xu Tenghe, were also sentenced to fixed-term imprisonment.
On August 20, 2026, the Shenzhen Intermediate People's Court publicly pronounced the first-instance verdict on the Evergrande Group and Xu Jiayin and others. Xu Jiayin received a combined sentence of life imprisonment for multiple crimes and had all his personal property confiscated.
Evergrande Group founder Xu Jiayin was recently sentenced to life imprisonment, sparking widespread public attention. Commentators view this as marking the beginning of an era where private Chinese billionaires generally face severe legal reckoning and life imprisonment.
China Evergrande announced that Xu Jiayin is subject to compulsory measures by law due to suspected violations of laws and crimes.
Ma Xingrui met with Xu Jiayin, Chairman of the Board of Directors of Evergrande Group, hoping that Evergrande would increase its investment in Shenzhen. Shenzhen expressed its support.