Police rescue all four hostages after 24-hour standoff

SHANGHAI: A wealthy industrial boss and his family were rescued after a hostage taker was shot dead by police after a 24-hour standoff.

The hostage taker, identified as a migrant worker from Jiangxi province surnamed Lin, had demanded a ransom of 3 million yuan ($439,000).

Early Monday morning, armed with a pistol and two bags of self-made detonators, Lin barged into a private villa in Wenzhou, East China's Zhejiang province.