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Billionaire’s detention highlights key man risk in China

Billionaire’s detention highlights key man risk in China

  • TV-G
  • 2019
  • 4mins
Shanghai police has detained Wang Zhenhua the billionaire founder and controlling stakeholder Future Land Development Holdings Ltd. The news sparked a record tumble in the stock and fueled speculation it may have to sell assets to rivals. All these are also highlighting a broader issue when it comes to China: key man risk. About 13% of listed Chinese businesses have a shareholder who owns a stake of 50% or more according Bloomberg data. Jeanny Yu reports on Bloomberg Markets: Asia. Bloomberg Opinion columnist Shuli Ren also speaks.