Hong Kong-listed Haichang Ocean Park’s boss detained in China amid shadow banking probe
Police in eastern China’s Zhejiang province have detained Yu Faxiang, the chairman of Hong Kong-listed Haichang Ocean Park, as authorities investigate alleged mismanagement following defaults on multibillion-yuan wealth products issued by a firm under his control. It is the latest crackdown on mainland China’s shadow banking system, continuing years of government efforts to clean up…
