The Midea Group founder He Xiangjian was taken hostage in his own home, Reuters reported.
The police managed to free him.
The night before, police received a call that intruders broke into a house in Foshan, near Hong Kong. Five suspects were arrested by Monday morning.
According to the Hurun Global Rich List, he is the fourth richest man in China with a net worth of 180 billion yuan (25 billion US dollars).
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