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Chinese billionaire rescued after foiled kidnap attempt

Published: (Updated: ) in Australian News by .

A Chinese billionaire and his family have been rescued by police after intruders broke into their home and took them hostage.

A Chinese billionaire and his family have been rescued by police after intruders broke into their home and took them hostage.

He Xiangjian, the founder of the world's biggest appliance manufacturer, Midea Group, was with his family at their home in Foshan, near Hong Kong, when intruders armed with explosives allegedly broke in on Sunday evening.

Police received a call at about 5.30pm, when Mr Xiangjian's son managed to escape and swim across a lake to get help.

The Foshan police department confirmed on social media that they had taken five suspects into custody.

Midea Group thanked police in a statement on its social media account but gave no confirmation its founder, He Xiangjian was involved.

The police statement said the crime occurred at the Junlan Life Village, which is a neighbourhood of villas built by Midea Group.

Mr Xiagjian is China's seventh-wealthiest person, with a net worth of A$35 billion according to the Bloomberg Billionaire's Index.

Midea Group reported 2019 revenue of 280 billion yuan (A$57 billion). Its 200 subsidiaries include Kuka, a German producer of robotics technology.

The company grew out of a workshop set up in 1968 by Mr Xiangjian and other residents of Beijiao, a village that now is part of Foshan.

Mr Xiangjian, 78, stepped down from operations of the company in 2012 but has a seat on the board of directors. His son, He Jianfeng, also is a director.

With Associated Press.

Source: 9News https://www.9news.com.au/world/chinese-billionaire-he-xiangjian-taken-hostage-by-armed-intruders/e1c80a33-beaa-49e6-b25e-b4041bd9c10b

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