On January 5, 2026, according to the information disclosed on the Chinese Enforcement Information Disclosure Network, Xu Jiayin was listed as a new individual subject to enforcement, with the enforcement target set at 47 million yuan and the enforcement court being the Beijing Financial Court. The amount to be executed is consistent with the maximum administrative fine imposed on Xu Jiayin by the China Securities Regulatory Commission in 2024.
At the same time, the Beijing Financial Court also has a record of forced execution against Evergrande Group Limited, with an enforcement target of approximately 4.175 billion yuan, a sum corresponding to the administrative fine previously imposed on Evergrande by the regulatory commission.
Currently, mainland China’s public reports and corporate information platforms such as Qichacha and Tianyancha have not disclosed the specific applicant for the enforcement case against Xu Jiayin, and relevant judgments and enforcement rulings have not been made public.
In May 2024, the China Securities Regulatory Commission determined that Evergrande Real Estate had artificially inflated its income and profits by prematurely recognizing revenue between 2019 and 2020, constituting bond fraud and violations of information disclosure laws, resulting in a fine of 4.175 billion yuan imposed on Evergrande, with its then-chairman and actual controller Xu Jiayin also fined the maximum of 47 million yuan.
Furthermore, Evergrande also engaged in various illegal activities such as failure to disclose regular reports on time, non-disclosure of significant litigation or arbitration, and failure to disclose default on maturing debts.
Starting from August 25, 2025, China Evergrande Group was forced to delist from the Hong Kong Stock Exchange for failing to resume trading after 18 months of suspension.
Public information and reports from mainland Chinese media have shown that as of the end of November 2023, Evergrande Real Estate had outstanding matured debts of approximately 316.391 billion yuan. Several industry insiders have analyzed that given Evergrande’s overall insolvency, the actual repayment rate in enforcement cases is very low.