Closer Look: The Link between SOHO's Slumping Shares and China's Unwritten Rules
(Beijing) – A link between "House Sister" Gong Aiai and Pan Shiyi, the chairman of SOHO China, has become a hot topic on the Web in China.
It has also caused the share price of the major property developer to fall 8.6 percent to HK$ 6.28 on February 6.
Gong's story is an illustration of China's unwritten rules, namely that a back door can be used to get around the law in any field, in this case the real estate sector. The fact is that for the privileged and rich this back door is an entrance to huge personal gain.
- Deadly Floods Reveal Gaps in Country's Disaster Management Capabilities, Official Says
- Private Investors Elbowed Out by High Borrowing Cost, Research Shows
- Property Markets in Top Tier Cities Continue to Sizzle in July
- Revival, Resistance for National Pension Push
- China Industrial Profit Growth Recovers to 6.2 Pct in H1
- Top Military Aide Guo Boxiong Sentenced to Life for Corruption
- Boom Time for Apps Offering Answers for All
- New Territory for Financial Oversight Reform
- Undervaluation Complaints Kill Baidu's Video Spin-Off
- Opera for All
- Sign up to receive our free daily newsletter
- Electric-Vehicle Makers Hit By Battery Troubles After Foreign Players Fail to Make Govt. List
- China to Build Out 45,000 km High-Speed Rail Network
- Straw Man in the South China Sea
- Consumers Unlikely to Rescue China's Sputtering Economy
- Media Watch: Colonel Sanders Becomes Unexpected Victim of South China Sea Ruling
- Investors Seek Liaoning Debt Boycott As Bond Default Battle Heats Up
- Can Financial Unit Shuffling Stem SOE Red Ink?
- China Moves Closer to Lift QR Code Payments Ban
- Baidu Blames Third-Party Ad Agencies for Illicit Gambling Ads
- Anbang Defies Insurance Downturn With Surging Premiums