Advertisement
Opinion | Soho China CEO denies money laundering accusations
Reading Time:1 minute
Why you can trust SCMP
Zhang Xin, chief executive of Soho China (0410.HK), the largest commercial developer in Beijing, said on her blog she loathed corruption and denied money-laundering accusations after a Shanxi official was found to have bought most of her 41 Beijing properties from Soho China.
Advertisement
Zhang also urged the Chinese government to grant the public access to property transaction records in order to fight corruption.
Gong Aiai, a former banker in China’s coal-rich Shanxi province, was arrested this week after she was accused of using double identities to buy properties worth one billion yuan (HK$1.24 billion) in Beijing. Chinese media later revealed Gong had bought most of the properties from Soho China.
Soho shares plunged this week amid rumours accusing Zhang and Pan Shiyi, her husband and chairman of Soho, of working with Gong to turn a profit.
“I believe that honesty is the building block of all human virtues,” Zhang said in a statement. “This serves as the guiding philosphy for how I live my life, educate my children and manage Soho China.”
Advertisement
“The government should roll out a property transaction records information system,” she added. “This will ensure every transaction is public and everyone can monitor corruption.”
Advertisement