Chinese billionaire property developer Wang Zhenhua has been formally arrested in Shanghai, his former firm has said. State media reported last week that Mr Wang had been detained over allegations of child sex offences. In a statement on its official Weibo account on Wednesday, Shanghai police confirmed two people, surnamed Wang and Zhou, had been arrested on charges of child molestation. Pictures of Mr Wang behind bars have been shown on state broadcaster CCTV. Future Land Development Holdings removed Mr Wang, 57, as chairman last week when he was first detained. It confirmed Mr Wang's arrest late on Wednesday without...