Li Ka-shing Leaving Mainland
September 30, 2015 - China
Hong Kong tycoon Li Ka-shing’s bid to divest from some of his property investments in China has led to a heated debate, triggering fears about the outlook for real estate in the world’s second-largest economy.
A recent series of deals involving Li’s investments drew a sharp rebuke from the People’s Daily, considered the ruling Communist Party’s mouthpiece.
Last week, it accused Li - Asia's richest man with a net worth of $24.3 billion - of being ungrateful and implicitly questioned his patriotism.
The remarks focused attention on the decision by 87-year-old Li - who is sometimes referred to as Asia’s Warren Buffett and whose moves are closely watched by investors - to divest from some of his biggest assets in Beijing and other major cities, including Shanghai and Guangzhou.
The Wall Street Journal reported in August that a property developer backed by the tycoon has put an office and retail property project in Shanghai up for sale.
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