00:00The founder of Chinese real estate giant Evergrande has pleaded guilty to corruption charges.
00:06Once the second richest man in Asia, Hui Ka Yan, pleaded guilty to charges including fraud, bribery and embezzlement at
00:14a court in Shenzhen.
00:16Evergrande used to be China's largest property developer, but in 2021 the company defaulted on most of its 300 billion
00:23U.S. dollars in liabilities, worsening China's recent property market slump.
00:28Hui could face life in prison if convicted. He has not been seen in public since he was detained in
00:342023.
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