The chairman of China Evergrande Group has been placed under police surveillance, Bloomberg News reported on Wednesday, raising more doubts about the embattled developer's future as it grapples with mounting risks of liquidation.
in Evergrande's shares resumes after 17 months, with 79% of its market value lost from when it was last traded.China's National Administration of Financial Regulation approves the setup of a state-owned insurer to take over all of asset and liabilities of Evergrande Life Insurance, a 50%-owned investee company of Evergrande.some staff at Evergrande Financial Wealth Management, an indirect wholly-owned subsidiary of Evergrande.
Reporting by Clare Jim and Xie Yu; Additional reporting by Roxanne Liu; Editing by Sumeet Chatterjee and Kim Coghill
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