Kaisa's ties to official under investigation being probed

Beijing

KAISA Group Holdings Ltd is being investigated by the Chinese government about links to a senior official in the city of Shenzhen who's under a probe, according to two people familiar with the matter.

Kaisa, which last week became the first Chinese developer to miss a coupon payment on international debt, had dealings with Jiang Zunyu, who's been investigated since October, said the people, who asked not to be identified because they aren't authorised to speak publicly. Mr Jiang had served as party chief of Longgang district, where some approval procedures for Kaisa developments were suspended last month.