Founded in 1995, SOHO China is China’s largest prime office real-estate developer, focusing on the central business districts of Beijing and Shanghai. It was founded by Pan Shiyi, a former oil ministry employee, and his wife Zhang Xin, formerly of Goldman Sachs. It listed in Hong Kong in 2007 (Hong Kong stock code: 410).
Beijing-based property developer Zhang Xin has made a name for herself and her husband in the mainland property market.
Now, according to news reports, the co-founder of SOHO China is worried that property cooling measures launched by the central government are hurting sales and threatening to send debt-laden property developers to the wall.
'In my 16 years as a developer this is by far the most challenging year I have ever had, in terms of what we could sell,' Zhang, CEO of SOHO was quoted as saying by AFP.
Since the start of this year the central government has clamped down on booming property prices, as it fears a bubble forming in the sector. It has raised interest rates and restricted lending to developers, making it very difficult for many to get financing.