A gunman killed one of China's richest tycoons Wednesday before killing himself, according to Chinese media and police.
Details of the shooting differed in state-run media reports and the account of a police official who spoke to CNN, however they converged on the fact that tycoon Li Haicang had been shot and that his assailant, who subsequently shot himself, was Feng Yinliang.
Last year, Forbes magazine last year ranked Li as China's 27th-richest entrepreneur.
State-run media reported that a passenger in Li's car was also shot dead. A police official who refused to be identified would only confirm that two people had died.
An investigation into the matter is ongoing, the police source said.
Li served as chairman of the Haixin Group, a steel-making company in the northern province of Shanxi. Li also was vice chairman of the All-China Federation of Industry and Commerce, a government-sanctioned chamber of commerce.
Chinese media reports speculated the motive was business-related. (Albawaba.com)
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