Xu Jiayin, chairman of troubled property developer China Evergrande Group (3333.HK), has been placed under police control, Bloomberg said, citing people familiar with the matter.
Citing unnamed people, Bloomberg said Xu was taken away by police earlier this month and placed under residential surveillance at a designated location.
Bloomberg reported that under China's Criminal Procedure Law, residential surveillance required Mr. Xu to surrender his passport and identity card, not to leave his residence without approval, and not to meet or communicate with others.