Posted by 
Police are treating the death of Sydney woman Zhuojun 'Sally' Li and the suspected death of her husband Jai-Bao 'Rex' Chen as a targeted double murder after a man's body was found this afternoon.
They are further investigating a theory that two suspects have fled to Taiwan and China after having murdered the couple and dumped their bodies in parkland in Botany, Homicide Squad boss Danny Doherty told media this afternoon.
Li, 33, was found dead on December 9, wrapped in plastic in bushland at Sir Joseph Banks Park in Botany, one month after she was reported missing by her mother.
READ MORE: Donald Trump speaks out on mystery 'drones' in first post-election press conference
Upon identifying her, police said they held "grave concerns" for the welfare of her husband Chen, also 33, as he had also been missing for a month.
At about 2pm today, police located a second body submerged in water and covered by foliage at a creek in Botany, just 10 metres away from where Li was found.
The body is yet to be formally identified, however, Homicide Squad boss Danny Doherty said detectives were assuming it was Chen.
"There is a strong likelihood and the assumption that this is the body of (Chen)… This is an ongoing forensic search, we still need to identify the body which may be difficult due to the nature of the decomposition."
READ MORE: Mum, daughter 'poisoned' in Fiji land in Australia
He also said detectives were treating both cases as a targeted double murder, with police saying Chen was most likely the main target.
Doherty also said that detectives believed the pair were killed at their Greenacre apartment and their bodies were then moved and dumped in Botany.
He confirmed that police believed multiple people were involved in the suspected homicides.
"More than one person had targeted both Sally and more likely Rex, (they've) murdered them and dumped their bodies on Foreshore Drive at Botany," Doherty said.
Sally's mother was at the home today and cleared out possessions.
Police are now working on the theory that there was debt or money owed by the couple.
Doherty also said that Chen's phone had been located in Queensland and believed a third party had been using the device.
"We believed it was used by a third party… that would be the people responsible for the murder of both (Li and Chen)," Doherty said.
READ MORE: Three dead including child after US Christian school shooting
He also confirmed that two suspects are believed to have fled overseas, with detectives working with authorities in Taiwan and China.
"(The suspects) had travelled up to Queensland, we retrieved (Chen's) phone in Queensland… from that, we were able to make further inquiries about two people that then travelled overseas," Doherty said.
"We now have…. liaised with Taiwan authorities and Chinese authorities we're looking at at least two people involved and both offshore.
"This is a targeted attack, one of the motives possible could be financial debts."
Doherty said on Saturday that police had seized a silver Toyota Avensis from an address in Sydney's city.
READ MORE: Emergency level bushfire downgraded as cool change sweeps across Victoria
He alleged the car was used to transport Li's body and dispose of it in Botany.
The car is not registered to Li or Chen.
"We have to keep an open mind, and when we do that we look at the possibility of a third party," Doherty said on Saturday.
"Not only in the suspected murder of Sally, but we also have to look at a third party being involved in the disappearance of Rex as well."
Police released images of the car stopped on the north side of Foreshore Road between 4am and 5am on November 30.
Anyone with information about the car and its movements is urged to contact Crime Stoppers.
Both Li and Chen have not been seen alive since November.
