Property
Evergrande’s billionaire founder Hui Ka Yan under Chinese police control
Evergrande sits at the center of a years-long property crisis that has hurt the Chinese economy and hammered confidence in the housing market
Hui Ka Yan, the billionaire chairman of beleaguered property developer China Evergrande Group, has been placed under police control, according to people with knowledge of the matter.
Hui was taken away by Chinese police earlier this month and is being monitored at a designated location, the people said, asking not to be identified because the matter is private.
It’s not clear why Hui is under so-called residential surveillance, a type of police action that falls ...
