daytrading march 18 afternoon, page-10

(Reuters) - A Chinese property developer owing 3.5 billion yuan ($566.52 million) to banks and individuals is teetering at the edge of insolvency, and its owner has been detained for illegal fund-raising, domestic media reported, citing local officials.

Zhejiang Xingrun Real Estate Co, based in Fenghua in eastern Zhejiang province, owes 15 domestic banks 2.4 billion yuan, state-owned China News Services reported.

Another oops moment in China.