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.

  • Zoboomafoo@lemmy.world
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    1 year ago

    Yes, you are supposed to think that a government imprisoning a subject that has committed no crime is a bad thing

    • GracchiBros@lemmy.world
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      1 year ago

      Where did you get this information that no crime has been committed and they are just being detained for shits and giggles?

      • Zoboomafoo@lemmy.world
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        1 year ago

        The article?

        I don’t know where you live, but in my country people get charged with crimes, then arrested.

        • GracchiBros@lemmy.world
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          1 year ago

          The article says no such thing.

          And I’m pretty sure your country has some form of investigative detention. If you’re American that can last up to 48 hours. And it really doesn’t matter because authorities there can just throw out charges, deny bail, blackmail people with absurd incarceration lengths into confessing their guilt, and detain them for years before a trial (or forever in some cases). And at any point in time those charges can be dropped.

          And if you really want to go into the pros and cons between different justice systems, we can do that but it doesn’t really have much to do with being a tankie or not.

        • BRINGit34@lemmygrad.ml
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          1 year ago

          So only half building homes and running off with the money isn’t a crime? I see no issue arresting some rich fucks who are screwing the common man