Another High-Level Purge
Chris Chappell reports that under Xi Jinping, China has purged millions of low- and high-level officials from the government and the Chinese Communist Party. And now he’s taken down another one—Evergrande found Hui Ka Yan.
Chappell says this comes almost two years after Evergrande, which was arguably China’s largest property developer, started defaulting on its debts. In this episode of China Uncensored, Chapell looks at why Xi might have gone after Hui Ka Yan now, how Evergrande’s fall kicked off a housing market meltdown and how this purge could be related to Xi’s arch nemesis Jiang Zemin.