What property giant Evergrande's sentence means for China's economy

An aerial view shows the 39 buildings developed by China Evergrande Group in Danzhou, Hainan province, China, Jan 6, 2022. (File photo: REUTERS/Aly Song) 20 Aug 2026 03:47PM BEIJING: For property giant Evergrande, the face of China's real estate woes, an excruciating saga that has dragged on for years culminated on Thursday (Aug 20) with court rulings ordering fines and jail terms.The court in Shenzhen city said it sentenced founder Xu Jiayin to life in prison and fined Evergrande Group and an affiliate more than US$2 billion for fraud and other offences.While the verdict caps the fallout from Evergrande's collapse, challenges posed by a stubborn slump in the once-booming property sector still loom large for China and its leaders.AFP breaks down Evergrande's fall and what it means for the