Caixin OnlinePolitics & LawTop Stories Politics Inner Mongolia Property Mogul Bites the Dust
07.24.2013 19:13

Inner Mongolia Property Mogul Bites the Dust

The real estate empire Li Guomin built in Bayan Nur has withered in the heat of a corruption scandal
By staff reporter Wang Heyan
 

Bayan Nur is a city nestled in the crook of a crescent-shaped valley, between the Yellow River and a desert, and surrounded by productive farms. It's name is Mongolian for "fertile lake," owing to the swampy Lake Wuliangsu on the crescent's eastern edge.

Bayan Nur is also an economic hub for north-central Inner Mongolia Autonomous Region that's prospered in recent years on the back of a local real estate boom.

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