Amid turmoil in China’s property market, the public seethes
Anger is turning against the tycoons who profited from a house-building boom
Lampooning Hui Ka Yan has become something of a national pastime in China. Once one of the country’s richest men, the tycoon was detained in September for unspecified crimes. His company, Evergrande, the world’s most indebted property developer, is on the cusp of death; a debt-restructuring plan for it has collapsed. No sooner did news of Mr Hui’s detention spread than a flood of jokes at his expense surged through China’s social media, pillorying his extravagance and pomposity. The humour was bitter: tens of thousands of homebuyers feel cheated by his firm.
Explore more
This article appeared in the China section of the print edition under the headline “A pox on your houses”
More from China
An outrage that even China’s supine media has called out
Anger is growing over a form of detention linked to torture and deaths
Why foreign law firms are leaving China
A number of them are in motion to vacate
An initiative so feared that China has stopped saying its name
“Made in China 2025” has been a success, but at what cost?
A pay rise for government workers sparks anger and envy in China
The effort to improve morale has not had the intended effect
A big earthquake causes destruction in Tibet
Dozens are dead, thousands of buildings have been destroyed
Militant Uyghurs in Syria threaten the Chinese government
How much does China have to fear?