#BREAKING Heavily indebted #Chinese property developer #Evergrande says the head of its #electricvehicle arm has been detained by authorities

#UPDATE Heavily indebted Chinese property developer Evergrande says the head of its electric vehicle arm has been detained by authorities. News of Liu Yongzhuo’s detention follows the firm’s announcement in September that chairman Xu Jiayin has been “subject to mandatory measures” from Chinese authorities over “crimes” Once China’s biggest real estate developer, Evergrande has reported more than $300 billion in liabilities.

Source: X