We are not very good at this. Our success rests on our international experience and on our ability to read the market. And I contest the notion that you can only succeed in China when you are well-connected. Neither my husband nor I are "princelings" - children of influential people, that is. And yet China has enabled us to succeed.
Zhang XinMark Zuckerberg recently announced that he will donate $45 billion of his wealth to philanthropy. Two years ago, my husband and I decided to endow $100 million to set up the SOHO China Scholars. This program will give financial aid to Chinese students so they can attend the best universities in the world.
Zhang XinChina reformed its state sector before, in the late 1990s. Tens of millions were laid off at the time. That was scary and we had warnings of social unrest. But it did not happen. Instead, there was a restructuring in our economic system. I am not sure if China will follow a Western playbook in this respect.
Zhang XinI am a runner. Last October, there was a marathon here in Beijing. I didn't participate this time, but friends told me that the run wasn't prepared too well. The organizers had only arranged about three hours' worth of food and water supplies. Most people don't finish within three hours, however. Too bad for them - or so it seemed. In fact, however, even those finishing last were perfectly taken care of, particularly during the fourth and fifth hour when demand is highest.
Zhang XinWhen we started out, we were among the first. Beijing had no and Shanghai had very few large buildings. At that time, it was all about building, building, building - and then selling, selling, selling. We were working like a manufacturer. Soon, however, we realized that land was running out in Beijing and Shanghai. So we started keeping our buildings, and managing and renting them out. We became landowners. That was the second act.
Zhang Xin