As the bankrupt Evergrande Group struggles in an abyss of colossal liability, Chinese news media and online platforms have been inundated by rumors about the property conglomerate’s founder, Xu Jiayin (also known as Hui Ka Yan). As various stories swirl, one thing is certain: like everything in China, Mr. Xu’s fortunes, and those of his company, are tied to those of the Chinese Communist Party (CCP). Some political observers say Evergrande’s collapse is evidence of a fierce power struggle within the highest echelons of the CCP. Mr. Xu may have been caught between top CCP boss Xi Jinping and former vice president Zeng Qinghong—with whom Mr. Xu has close ties. Mr. Zeng and his supporters have been repeatedly targeted by Mr. Xi’s moves to consolidate power....Read more https://www.theepochtimes.com/china/analysis-evergrande-bankruptcy-linked-to-xis-purge-of-political-rivals-5490251