Pressure on Evergrande with chairman under police surveillance

It was not clear why Hui was placed under residential surveillance, Bloomberg News said. — Reuters

HONG KONG: The chairman of China Evergrande Group has been placed under police surveillance, Bloomberg News reports, ratcheting up pressure on the embattled developer whose outlook has already darkened significantly this week.

Citing people with knowledge of the matter, the report said Hui Ka Yan was taken away by police earlier this month and is being monitored at a designated location.