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

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