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China Revokes Evergrande Life’s License Over Illegal Fund Use

Published: Aug. 22, 2026 2:35 a.m. GMT+8

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Evergrande Group entered the insurance business in 2015 by acquiring a 50% stake in Zhongxin Grand Oriental Person’s Life Insurance Co. Ltd.

China’s top financial regulator on Friday revoked the business license of Evergrande Life Insurance Co. Ltd., citing severe compliance failures, including the illegal use of insurance funds and the transfer of benefits to related parties.

The action marks the final chapter for the insolvent insurer, which had functioned as a financing vehicle for China Evergrande Group. It came a day after the embattled property developer’s founder, Hui Ka Yan, was sentenced to life in prison.

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