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Once the richest woman in China is now an outcast?
She was once a strong woman in the domestic business world, created the myth of SOHO China, and ranked eighth among China's richest women with a net worth of 19.5 billion
From a factory worker to a financial elite, Zhang Xin's counterattack road
Zhang Xin's childhood was not rich, her parents were Chinese immigrants living in Myanmar, life was difficult after returning to Beijing, the young Zhang Xin had to take on the burden of life early, dropped out of school at the age of 14 to work in a factory, this difficult experience honed her will, but also made her more eager to change her fate, with extraordinary perseverance and talent, Zhang Xin spent five years, through self-study to enter the University of United Kingdom Cambridge, and successfully obtained a master's degree in finance
Zhang Xin, who returned to China after completing her studies, quickly gained a firm foothold in the domestic financial circle with her outstanding ability, and became a financial elite with an annual salary of one million, at that time in China, the per capita salary was only a few hundred yuan, Zhang Xin's income was undoubtedly enviable, and this successful experience in China did not make her feel a sense of identity with the motherland, but deepened her yearning for the Western world
The combination with Pan Shiyi creates the Chinese myth of SOHO
In 1994, Zhang Xin and Pan Shiyi met, the two got married in just four days, this marriage was also regarded as a "match made in heaven" by the outside world, after marriage, Zhang Xin gave up a high-paying job, followed Pan Shiyi back to China to start a business, and set his sights on the real estate industry that was still in its infancy
With a keen sense of business and an international vision, Zhang Xin and Pan Shiyi co-founded SOHO China and quickly established a place in the real estate market, with Zhang Xin in charge of the company's operations management and project design, while Pan Shiyi focused on foreign investment and brand promotion
In 2007, when SOHO China was successfully listed on the Hong Kong Stock Exchange, Zhang Xin's net worth rose to become a billionaire
600 million donations to overseas famous schools but indifferent to the domestic epidemic?
In 2014, Zhang Xin and Pan Shiyi donated 600 million yuan to Harvard University and Yale University in United States to fund poor Chinese students to study in the United States
Many accused Mr. and Mrs. Zhang of "flattering foreigners" and "donating money to foreigners while making money from Chinese," and Pan Shiyi explained that the donation was to help truly talented Chinese students and give them the opportunity to study at world-class universities
Such rhetoric is obviously difficult to convince the public, you know, 600 million yuan was already a lot of things for China at that time, not to mention, Zhang Xin and his wife made a lot of money in China, but they were particularly stingy in the face of domestic public welfare
In 2020, the new crown epidemic swept the world, Wuhan became the hardest hit area of the epidemic, in the face of this sudden disaster, many domestic entrepreneurs have generously donated money and materials to support the front line of the anti-epidemic, Zhang Xin and his wife, who had invested 600 million yuan to donate to overseas famous schools, but just posted a painless "come on" Weibo on social media, and there was no follow-up
Such a move has undoubtedly made the domestic public's perception of Zhang Xin and his wife fall to the bottom, and people can't help but ask, since you are so "concerned" about Chinese students, why did you choose to stand by and watch when your motherland was facing danger?
What is the intention of Zhang Xin and his wife to join the United States nationality and sell domestic assets?
After the donation turmoil, Zhang Xin and his wife began a large-scale sale of SOHO China's domestic assets, and in 2019 sold the company's controlling stake to the United States Blackstone Group, where Zhang Xin also became a United States citizen, and their two sons also entered Harvard University and Yale University to study
A series of operations seem to show that Zhang Xin and his wife have made up their minds to "immigrate" United States and completely "cut" the reality from the Chinese market.
SOHO China is mired in the quagmire, and Zhang Xin's wishful thinking has failed?
In 2021, SOHO China was investigated by the State Administration of Taxation for suspected tax evasion, and the company's stock price plummeted, and in 2023, SOHO China was again exposed to RMB 1.986 billion in arrears of land value-added tax, and the company's capital chain is at risk of breaking
Once a glorious SOHO China, it is now mired in a quagmire, and Zhang Xin and his wife, who single-handedly created SOHO China's business empire, have long since left for the rest of the world
Perhaps, in the abacus of Zhang Xin and his wife, they have earned enough "first pot of gold" in the Chinese market, and it is time to retire and enjoy the "poetry and distance" overseas
As an entrepreneur, the biggest responsibility is not how much wealth to earn, but how to give back to the society and assume due social responsibility, and the behavior of Zhang Xin and his wife is undoubtedly a wake-up call for all Chinese entrepreneurs
epilogue
Zhang Xin's story is a story about success, choice and responsibility, she struggled step by step from a factory worker to a business elite, which is an inspirational story in itself, she lost herself in the face of wealth and fame, and finally chose to turn her back on the motherland, which is another embarrassing story
Zhang Xin's ending may have been doomed in her choice, and her story will surely become a mirror for future generations to reflect
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