Chinese Police Detain Wealth Management Staff at the Heavily Indebted Developer Evergrande

A woman walks past a map showing Evergrande development projects in China at an Evergrande city plaza in Beijing on Sept. 21, 2021. Andy Wong/AP Photo

Police in a southern Chinese city said they have detained some staff at China Evergrande Group’s wealth management unit in the latest trouble for the heavily indebted developer.

A statement by the Shenzhen police on Saturday said authorities “took criminal coercive measures against suspects including Du and others in the financial wealth management (Shenzhen) company under Evergrande Group.”