China tycoon questioned by police

State media says Huang Guangyu, China's second richest man, has been arrested.

    Huang Guangyu founded the Gome chain of appliance stores in the 1980s [EPA]

    Confirming the arrest, China's Xinhua news agency said Gome company spokesman He Yangqing would make a statement on Monday, but gave no other details.

    Huang set up his home appliances distribution firm with 30,000 yuan ($4,400 at current exchange rates) in the 1980s.

    The firm has since become a nationwide, earning Huang the nickname "China's Sam Walton – a reference to the founder of US retail giant Wal-Mart.

    Huang was ranked as China's second richest man in a list compiled by US business magazine Forbes earlier this year.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Holding onto Hoxha: Guarding the last statue of communist Albania

    Holding onto Hoxha: Guarding the last statue of communist Albania

    In the basement of an old museum in a village in Albania, a 78-year-old woman protects the last remnant of a dictator.

    Still Here: A story of incarceration and gentrification in the US

    Still Here: A story of incarceration and gentrification in the US

    Many formerly imprisoned women of colour return to neighbourhoods transformed beyond recognition. What awaits them?

    The 'risky business' of tracking Rwandan fugitive Felicien Kabuga

    The 'risky business' of tracking Rwandan fugitive Felicien Kabuga

    The former chief prosecutor at the International Criminal Tribunal for Rwanda discusses the hunt for genocide suspects.