China sentences Evergrande founder Hui Ka Yan to life in prison

China Evergrande's founder Hui Ka Yan has been sentenced to life in prison, marking the dramatic fall of a prominent property magnate who rose during China's real estate boom. This sentence symbolizes the broader collapse of the country's property sector and the consequences faced by major developers who fueled the market's expansion. Hui's downfall represents a significant turning point in China's efforts to address the real estate crisis.