Murdered millionaire knew his killer well

Millionaire Li Haicang, who was murdered in his Shanxi office on Wednesday, was a 'long-time acquaintance' of the suspected killer, a government spokesman said yesterday.

Authorities were working to establish whether it was a murder-suicide, or whether other people were involved, the Shanxi government official said.

The spokesman said the family of 47-year-old Feng Yinliang, whose body was also found in Li's office, was now 'under close surveillance'.

Li and Feng were the same age and they came from the same village, the spokesman said.

However, he declined to comment on reports that Feng's wife was being detained on charges of illegally possessing firearms and that their two children had also been arrested.

He also declined to comment on a Shanxi Daily report which said Feng, boss of a now-defunct paper mill, was involved in a dispute with Li over a land deal.

According to China News Service, the debt-ridden Feng had suffered heavy losses on the stock market.