Two men suspected of kidnapping a Chinese businessman were shot dead in a gun fight with police officers on Wednesday.

The kidnappers were shot dead during a gun fight that ensued as they attempted to escape, police said at a press conference on Thursday.

The two men allegedly abducted Zan Baoshi, the chairman of Datong Huayue Construction Group, a real estate company, according to Xinhua. Zan was kidnapped on Tuesday morning as he made his way to his office in Datong city in north China’s Shanxi Province.

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Datong City police were informed of the kidnapping around noon on Tuesday. The kidnappers demanded US$20 million as a ransom for Zan. More than 500 policemen were commissioned to conduct a search and rescue operation, Datong City public security bureau said.

After spending more than 10 hours searching, police located the suspects on Wednesday morning. The suspects were found driving two cars in a village near Datong.

The police tried to arrest the suspects by surrounding them. However, they resisted arrest and started a gun fight with the authorities.

Both suspects were shot dead on the scene. Zan was safely rescued, the bureau said. Police also seized two cars, two firearms and 31 bullets.

The two suspects, identified only as Jia and Tong, were both from Datong’s Nianjao district, police said.

Zan, the victim, kept a low profile before the incident. Little is known about him. According to information available online, he established Huayue Group in 1996. Zan’s company is currently worth 2.8 billion yuan (about $430.64 million).

TagsShanxi province, Datong Huayue Construction Group, Zan Baoshi, Nianjao district