{"id":4511,"date":"2023-09-29T21:42:08","date_gmt":"2023-09-29T19:42:08","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4511"},"modified":"2023-09-29T21:42:08","modified_gmt":"2023-09-29T19:42:08","slug":"evergrandes-founder-is-under-police-control","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4511","title":{"rendered":"Evergrande&#8217;s founder is under police control"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Hui Ka Yan, the billionaire who heads the distressed China Evergrande Group, has been taken under police control, according to people familiar with the situation.<\/p>\n<p>It&#8217;s not clear why Hui is under so-called residential surveillance, a type of police action that falls short of formal detention or arrest, and doesn&#8217;t necessarily mean Hui will be charged with a crime.<\/p>\n<p>However, according to China&#8217;s criminal procedure law, he cannot leave the place of stay, meet or communicate with others without authorization.<\/p>\n<p>Passports and identity cards must be handed over to the police, but this process, according to the law, should not exceed six months.<\/p>\n<p>The move is the latest sign that the developer&#8217;s story has entered a new phase after authorities detained several employees of the asset management unit earlier this month, as well as two former executives of the company who were also reportedly detained.<\/p>\n<p>Against this backdrop, shares of Chinese real estate companies have fallen to their lowest level since October 2011.<\/p>\n<p>Investors are also affected by concerns about liquidity and low demand for housing, especially with a week-long trade break on the mainland ahead.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hui Ka Yan, the billionaire who heads the distressed China Evergrande Group, has been taken under police control, according to people familiar with the situation. It&#8217;s not clear why Hui is under so-called residential surveillance, a type of police action that falls short of formal detention or arrest, and doesn&#8217;t necessarily mean Hui will be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4511"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4512"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}