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The CEO of JD.com Inc, Richard Liu, has returned to China, the Chinese e-commerce giant said on Monday, days after he was arrested by police in the us city of Minneapolis on suspicion of criminal sexual conduct and later released.

He was arrested shortly before midnight on Friday and was released just after 4pm on Saturday, according to Hennepin county sheriff's office.

A Chinese billionaire was arrested in Minnesota on suspicion of criminal sexual conduct, police said Sunday.

A Minneapolis police department spokesperson said over the weekend the investigation was "active" but Liu hadn't been charged.

In an earlier statement posted to Chinese social media network Weibo, JD.com described the allegations as false.

JD.com is among China's biggest online retailers and lauds itself as the first e-commerce company in the country to offer next-day delivery nationwide.

JD said it planned to make a selection of items available for sale in places like Europe and the U.S. through Google Shopping, which allows shoppers to search for products and compare prices on different e-commerce sites. Liu was detained on Friday and released on Saturday.

That proved key to JD.com's rise, culminating in its listing in the United States in 2014.

However, officials from JD.com said that Liu was falsely accused and his arrest was based on unsubstantiated accusation.

Google announced in June that it had invested $550 million in the firm, which plans to expand in the United States and compete with Amazon.

The New York Times reported Liu has returned to China where he has become the talk of the nation. Liu, who was not accused of wrongdoing, had asked an Australian court to keep his name from public view, arguing association with the incident could hurt his business and marriage to the business executive Zhang Zetian, another celebrity figure.

Longwei Xu was found guilty in July of sexual assault after a jury found that he pinned the woman down and repeatedly tried to have sex with her during an hour-long ordeal at his hotel room in December 2015, Sydney Morning Herald reports. The accusation could also be a test of JD.com's stability, as well as the ability of a Chinese technology company to rebound from the problems of its leaders. Liu grew up in a poor part of eastern China before attending the prestigious Renmin University in Beijing.