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submitted 1 year ago by MicroWave@lemmy.world to c/world@lemmy.world

Shares in crisis-hit Chinese property giant Evergrande have been suspended in Hong Kong amid reports its chairman has been placed under police surveillance.

It follows reports earlier this week that other current and former executives had also been detained.

Thursday's market statement did not give a reason for the trading halt.

But it marks another low for the heavily indebted property giant which defaulted in 2021, triggering China's current real estate market crisis.

In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.

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[-] dangblingus@lemmy.world 7 points 1 year ago

Where do you live? In North America, you get arrested, then you get charged.

this post was submitted on 28 Sep 2023
214 points (99.1% liked)

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