BEIJING: Police in China have arrested several employees of a subsidiary of troubled Chinese property giant Evergrande, authorities said Saturday. Employees at Evergrande's financial subsidiary, Evergrande Wealth Management, were arrested, police in the southern city of Shenzhen said in a statement, without specifying the number of employees or the charges against them. HOUNDED BY TROUBLE The Evergrande logo is seen on residential buildings in Nanjing, in China’s eastern Jiangsu province, Aug. 18, 2023. Police in China have arrested several employees of a subsidiary of the troubled Chinese property giant, authorities said on Saturday, September 16. Another Chinese property giant, Country Garden, has narrowly avoided default in recent months, after reporting a record loss and debts of more than $150 billion.

Source: Manila Times September 18, 2023 13:02 UTC