Wanda Group photo:VCG

Several individuals from Wanda Group, including Senior Vice President Liu Haibo, were reportedly taken into custody by public security authorities due to alleged corruption-related issues, as reported by the Chinese news outlet thepaper.cn on Tuesday, citing sources.

The specific reasons for their detention are currently unknown, according to the report.

Public information indicates that Liu joined Wanda Group in 2010 and had been responsible for Wanda Group's investment business prior to his detention.

According to the report, Liu's detention is linked to internal anti-corruption efforts within Wanda Group. Chairman Wang Jianlin has consistently maintained strict measures against corrupt behavior.

Liu was seen in public as recently as August 1 when he participated in a working meeting between Zhang Qiang, Mayor of Datong in North China's Shanxi Province, and Wang Jianlin, the Chairman of Wanda Group, to discuss project development and expand cooperation.

Since July of this year, Wanda Group has continued to attract market attention due to its debt pressure.

According to the company information platform Tianyancha, Wang Jianlin recently transferred 49 percent of the equity of Beijing Wanda Investment to Shanghai Ruyi Television.

Informed sources from thepaper.cn stated that the proceeds from this sale will be utilized to repay $400 million in principal due on July 23.

Furthermore, as reported by Bloomberg, Wanda Group managed to make a timely payment on the $400 million bond at the last minute and held a meeting with certain overseas creditors on July 26 in an effort to alleviate concerns regarding the group's operations.