Chinese billionaire Zhenhua’s detention triggers investor exodus from his realty empire

U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

Chinese billionaire Wang Zhenhua was detained by Shanghai police, triggering an investor exodus from his real estate empire that erased more than $4 billion of market value, sent his companies’ dollar bonds tumbling and fueled speculation that rival developers might try to pounce.

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