Hui Ka Yan, the chairman of China Evergrande Group, has been placed under police control and is being monitored at a designated location, according to sources. The reason for his control is unclear, but it does not imply that he will be charged with a crime. Hui, once one of China’s most politically connected businessmen, has seen a significant fall from grace amid President Xi Jinping’s crackdown on excessive leverage in the real estate sector.
Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News