The long-running collapse of Chinese property giant Evergrande reached a dramatic juncture on Thursday, with a Shenzhen court sentencing founder Xu Jiayin to life in prison and imposing fines of more than $2 billion on the company and an affiliate.
The verdict closes another chapter in the downfall of the developer that became a symbol of China's property crisis. But the problems that triggered Evergrande's collapse continue to weigh on China's economy and remain a major challenge for policymakers.
