Wang Sicong has been named as an “enforced person” in a multmillion-dollar court case in China. Photo: Baidu

Wang Sicong, son of China’s former richest man, told to pay back US$21.6 million in debts

  • He often flaunted his wealth on Weibo, a Chinese social media network, where he has almost 44 million followers
  • In 2015, he bought two Apple Watches for his dog Coco, and posted a photo online of the malamute wearing the devices on her paws
Topic |   China Society

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Wang Sicong has been named as an “enforced person” in a multmillion-dollar court case in China. Photo: Baidu
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Sun Hongbin, majority stockholder in Sunac, says Chinese property developers must adjust to Beijing’s strict real estate controls. Photo: Edmond So

China developers should consider other industries as Beijing unlikely to ease property controls, tycoon says

  • Beijing has decided that the Chinese economy needs to reduce reliance on real estate industry, says Sun Hongbin, majority stockholder in Sunac
  • Current property market controls are unlikely to be relaxed in near future, Sun says
Topic |   China economy

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Sun Hongbin, majority stockholder in Sunac, says Chinese property developers must adjust to Beijing’s strict real estate controls. Photo: Edmond So
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