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Tycoon Pan Shiyi Slams China Property ‘Ponzi’ as Evergrande Boss Pleads Guilty
4 Articles
4 Articles
Fan Shiyi (63), founder of Soho China, a leading Chinese real estate developer, publicly criticized the situation on the 16th, stating, "Over the past 30 years, the Chinese real estate market has been virtually a Ponzi scheme." This was effectively a "letter of apology" released immediately after Xu Jiayin, founder of another developer, Evergrande, admitted to charges including illegal fundraising and bribery. Soho China set the record for the l…
Pan Shiyi, a well-known Chinese real estate tycoon and founder of SOHO China, who has been silent for three years, recently published an article describing the development of China's real estate market over the past 30 years as a "Ponzi scheme".
Pan Shiyi, founder of SOHO China, recently published an article reflecting on the development of China's real estate industry over the past 30 years, stating that the industry is now on the verge of collapse, with losses amounting to trillions of yuan. He analyzed that the root cause of the industry crisis lies in the "Ponzi scheme," pointing out that the key to recovery is restoring integrity and protecting homebuyers' rights. Pan Shiyi publish…
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