Chinese Politburo Member’s Downfall Exposes Shadowy Network Tied to Evergrande, Vanke

A Caixin investigation into the downfall of Politburo member Ma Xingrui has uncovered a sprawling political-business syndicate that extracted billions of yuan from real estate deals and dumped toxic assets onto property giant China Vanke Co. Ltd. (000002.SZ).

The Communist Party announced Tuesday that its Politburo decided to expel Ma, 66, from the party and public office over pervasive “family corruption.” The former Xinjiang party chief and Guangdong governor is accused of allowing relatives to exploit his influence for massive financial gain, while abusing his power to secure benefits for others in business operations and project contracting.