Founder of China's Evergrande Real Estate Giant Sentenced to Life in Prison
A court in China has given a life sentence to a rich businessman. His name is Hui Ka Yan.
Hui Ka Yan started a big company called Evergrande. Evergrande built houses and buildings in China.
Evergrande became one of the biggest real estate companies in the world. Real estate means houses, land, and buildings.
The company had big money problems. It could not pay back the money it owed.
This is called debt. Debt is money that a person or company must pay back.
Evergrande's problems hurt China's economy. Many people were worried about their homes and money.
A Chinese court decided that Hui Ka Yan did something wrong. Now he must stay in prison for life.
This is a very serious punishment. A life sentence means he will not leave prison.
The news about Evergrande and Hui Ka Yan is important. It shows problems in China's real estate business.
Vocabulary15 words
- life sentence
- a punishment where a person stays in prison forever
- Evergrande
- a big Chinese company that built houses and buildings
- real estate
- houses, land, and buildings that people buy or sell
- debt
- money that a person or company must pay back
- punishment
- something bad that happens to a person after doing wrong
- court
- a place where judges decide if someone did wrong
- economy
- the way money and business work in a country
- businessman
- a man who runs or owns a company
- founder
- the person who starts a company
- company
- a business that sells things or services
- prison
- a place where people go as punishment
- China
- a big country in Asia
- money problems
- when a person or company does not have enough money
- serious
- very important or very bad
- sentence
- the punishment a court gives to someone
Quiz
Answer key
1. A real estate company called Evergrande 2. A life sentence in prison 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
A court in China has given a _____ to a rich businessman. His name is Hui Ka Yan.
Hui Ka Yan started a big company called _____. Evergrande built houses and buildings in China.
Evergrande became one of the biggest _____ companies in the world.
The company had big money problems. It could not pay back the money it _____.
This is called _____. It is money that a company must pay back.
Evergrande's problems hurt China's _____.
A Chinese court decided that Hui Ka Yan did something _____.
Now he must stay in _____ for life.
This shows problems in China's real estate _____.