Chinese police detained several Evergrande employees – Kommersant
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Shenzhen police detained several employees of the financial division of the developer China Evergrande Group. This is reported by international news agencies, in particular Reuters, citing a statement from Shenzhen police on social media. It said law enforcement authorities had taken “criminal enforcement measures” against Evergrande’s wealth management division head Du Liang and several other suspects. Police said the investigation was ongoing and did not provide any details, including the number of people arrested or even the nature of the charges against them.
The Evergrande crisis has continued since 2021. Then became known about the serious financial problems of the holding. The company’s debt reaches $328 billion. Last year, Evergrande experienced a technical default on its debt obligations, and is still going through a painful restructuring. Evergrande shares traded at the end of August resumed after a 17-month break, and on the first day of trading they fell in price by 80%.
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