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People and places

This article was originally published in The Public Ledger

PANG Guixiong, chairman of Chinese sugar firm Guangdong Zogood, has died after falling from his 23rd-floor apartment in Zhanjiang, in the southern province of Guangdong. The Xinhua news agency reported that the company has fallen into debt after wracking up losses on the futures markets. Citing unnamed company sources, the report said that Mr Guixiong had been under pressure from a growing number of creditors to repay debts believed to total around yuan1bn ($146m), causing him to suffer from severe stress. Police are still investigating the cause of the fall and have frozen Zogood's assets.


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