Market Chatter: China Evergrande Group's Chairman May Be Detained in Shenzhen

MT Newswires Live

Sep 13, 2024

The chairman of China Evergrande Group (HKG:3333), Hui Ka Yan, was moved to a special detention center in Shenzhen, Reuters reported Thursday citing two sources with knowledge of the matter.

Hui was arrested by Chinese authorities a year ago, and his whereabouts since have not been reported. One of the company's units inflated its earnings and was ordered into liquidation in January. Hui was fined $6.6 million and banned from the securities market for life, Reuters said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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One of the company's units inflated its earnings and was ordered into liquidation in January. Hui was fined $6.6 million and banned from the securities market for life, Reuters said.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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One of the company's units inflated its earnings and was ordered into liquidation in January. Hui was fined $6.6 million and banned from the securities market for life, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"live","is_publish_news":false,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}