Chinese Cops Arrest Wanda Group Executive

A senior executive of Dalian Wanda Group Co. was taken away by police in China, according to a local media report, spurring fresh concerns over the conglomerate, Bloomberg News reported.

Photo Insert: The Wanda Plaza.

Liu Haibo, senior vice president of Wanda Group, was taken away by the police, state-owned The Paper reported, citing unidentified people.

A representative for Wanda didn’t comment when reached by Bloomberg News.

Liu has been working for the Dalian Wanda Group for more than a decade and his fellow executives were puzzled why the police arrested him. They are all in the dark about the reason why he was detained but it comes at a time when Beijing has been cracking down on “corrupt” businessmen.

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