Police hold boss of troubled developer China Evergrande: report
The Hindu
Billionaire Xu Jiayin held by police; China Evergrande grapples with severe financial difficulties; Xu held under "residential surveillance"; Company stocks fall 19%.
The billionaire boss of beleaguered Chinese property developer China Evergrande is being held by police, a report said Wednesday, as the debt-ridden company grapples with severe financial difficulties.
Xu Jiayin, who is known as Hui Ka Yan in Cantonese, was taken away by authorities earlier this month, according to anonymous sources cited by Bloomberg News.
He is being held under "residential surveillance", the report said, which does not mean he has been arrested or charged with a crime.
Privately run pro-government Chinese outlet Guancha also said informed sources had confirmed the report.
It added that Xu had been brought under control by authorities "a few days ago" and that he is being held in Beijing.
Calls by AFP to Evergrande offices in Hong Kong and mainland China went unanswered and the company did not respond to a request for comment.
Asked about the Bloomberg reporting at a Wednesday news briefing, Chinese foreign ministry spokesman Wang Wenbin said he was "not aware of the situation".
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