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Evergrande Billionaire Snubbed by China’s Communist Party Elite

  • Hui Ka Yan was told not to attend CPPCC gathering, people say
  • Signals he is falling out of favor as restructuring looms
Hui Ka Yan

Hui Ka Yan

Photographer: Paul Yeung/Bloomberg

China Evergrande Group’s billionaire founder was denied access to a key political meeting this week, the latest sign that he is losing favor with the Communist Party as his property empire heads toward a government-driven restructuring. 

Hui Ka Yan was told not to attend the annual convention of the Chinese People’s Political Consultative Conference, or CPPCC, people with knowledge of the matter said. As a result, he requested personal leave from the week-long meeting as Evergrande tries to defuse operational risks.