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'Evergrande founder under police control' - Economy

2023-09-27T07:11:33.190Z

Highlights: 'Evergrande founder under police control' - Bloomberg, 'Hui Ka Yan is under home surveillance' Fears are growing about the fate of the Shenzhen group, now at risk of survival. Hui, whose Mandarin name is Xu Jiayin, was taken away by officers in early September and "is being monitored at a designated location," in a state of "home surveillance" that does not involve arrest or specific charging of crimes. Evergrande is the most indebted real estate developer in the world, with charges of over $300 billion.


Bloomberg, 'Hui Ka Yan is under home surveillance'. Fears are growing about the fate of the Shenzhen group, now at risk of survival. (ANSA)


China has put Hui Ka Yan, the billionaire founder of Evergrande, under police control, while fears are growing about the fate of the Shenzhen group, now at risk of survival. This is what Bloomberg reports, anonymously citing people familiar with the situation.

Hui, whose Mandarin name is Xu Jiayin, was taken away by officers in early September and "is being monitored at a designated location," in a state of "home surveillance" that does not involve arrest or specific charging of crimes.

Evergrande is the most indebted real estate developer in the world, with charges of over $300 billion.

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Source: ansa

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