China Vanke's CEO detained by authorities, state media reports
The sign of Vanke is seen at a gate of a construction site in Shanghai, China on March 21, 2017.
PHOTO: Reuters file
PUBLISHED ONJanuary 17, 2025 1:48 AM
HONG KONG — The Hong Kong-listed shares of property developer China Vanke were set to fall 8.4 per cent on Friday (Jan 17) after state media reported that Chief Executive Zhu Jiusheng was detained by Chinese public security authorities this week.
The Economic Observer reported on Thursday that Zhu had been detained and a Shenzhen government task force had stepped in to oversee the property developer's operations. Vanke did not respond to a request for comment.
The Hong Kong shares of China Vanke were set to open at HK$4.45 (S$0.78), the lowest open since late September.
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