HONG KONG -- News that the chairman of China Evergrande Group is being held by police has further clouded the embattled Chinese developer's restructuring plan and sent its shares sinking on Wednesday.
Police in China took Hui Ka-yan away earlier this month and are holding the Evergrande chairman in a designated destination, according to a Bloomberg report published midday, citing sources. It is unclear why Hui is being held, which does not mean he has been officially charged with a crime, the report said.
