Wang Sicong, the son of tycoon Wang Jianlin, gained notoriety on Chinese social media for his colourful personal life and playboy lifestyle. Photo: Handout

China’s richest tycoons hit by debt defaults, arrests and suicides in 2019 amid tightening regulation

  • A number of China’s wealthiest businesspeople fell from grace in 2019 amid debt defaults, criminal charges and tightening government regulation
  • Beijing is trying hard to assure private businessmen they are valued, but analysts say they will ‘continue to face challenges in the year ahead’
Topic |   China economy

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Wang Sicong, the son of tycoon Wang Jianlin, gained notoriety on Chinese social media for his colourful personal life and playboy lifestyle. Photo: Handout
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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.