Ding Jianlin, Chairman of Zhejiang Jin Center, has been taken into criminal detention.

On December 23rd, it was reported that the chairman of Zhejiang Jin Center, Ding Jianlin, has been criminally detained by Shaoxing Public Security since December 12th. The actual controller of Xiangyuan Group, Yu Faxiang, was also criminally detained on the same day for suspected crimes, and the case is currently under investigation. Prior to this, numerous financial products guaranteed by Xiangyuan Holdings and Yu Faxiang could not be redeemed, involving over 200 products with a total scale of over one billion yuan. A special team at the provincial level in Zhejiang has been established to freeze shares and properties of Xiangyuan Group through judicial measures. Some investors have received calls from the police station requesting registration and reporting of their cases.