introduction
Imagine what it's like to jump from the top of the bustle?
In September 2023, Chinese real estate giant Xu Jiayin seemed to have experienced this free fall firsthand, bringing about the sudden end of Evergrande Group.
And in this turbulent economic wave, a remarkable woman, Bai Shanshan, quickly appeared on the spotlight.
Xu Jiayin's rise is sky-high, however, his fall is even more shocking; What amazing secrets are hidden in Bai Shanshan's identity change?
The relationship between Bai Shanshan and Xu Jiayin
Bai Shanshan, a young and beautiful supermodel, once attracted wide attention for her stunning beauty.
However, the trajectory of her life changed dramatically in 2014.
At that time, Xu Jiayin, the owner of the Evergrande Group who was in the limelight.
With huge wealth and an invitation that is difficult to refuse, Bai Shanshan was attracted to the Evergrande Song and Dance Troupe.
The former model champion resolutely decided to dedicate his youth to this new position.
Use youth to exchange wealth and officially step into the door of the entertainment industry.
At that time, the Chinese government announced the shack reform of the real estate policy, and Xu Jiayin smelled the business opportunity.
He did not hesitate to borrow money, almost unscrupulously, to invest these huge loans in a real estate market that was already in the doldrums.
Even more striking, he introduced a tempting loan incentive policy within the company, encouraging employees to introduce large loans, and in return, employees can receive generous dividends.
This frantic loan operation financed Evergrande's development, and Bai Shanshan and her song and dance troupe became key players in driving the plan.
Bai Shanshan is not only the leader of the Evergrande Song and Dance Troupe, but also plays many other important roles.
She spent a lot of time with the Xu family in India, relieved his boredom and entertained all kinds of beautiful women who were dignitaries.
Her existence has transformed her from a poor girl in Guangxi to a well-known rich woman.
Although Bai Shanshan withdrew from social media footage after Xu Jiayin's arrest, her luxurious life has repeatedly attracted attention.
This special relationship will continue to be the focus of curiosity for many people, and it will also reveal a corner of Xu Jiayin's luxurious life.
The villa of Xu Jiayin's second aunt was exposed
This breathtaking villa has a market value of 240 million RMB alone. But that number is just the tip of the iceberg. Once you step inside the villa, you can truly appreciate the ultimate in luxury.
The décor is one of its highlights, from stair handrails to hanging lamps, everything is crafted or inlaid in gold, creating a striking golden world.
The details inside this villa are stunning. Stair handrails, carved hanging lamps, and gold spares no effort to create a stunning sparkle.
Not only that, the furnishings in the villa are even more valuable, even the plates containing fruits are made of blue and white porcelain, and it is said that it is Jingdezhen blue and white porcelain in the Ming Dynasty, which is extremely valuable.
Even in the restaurant, the tableware is also a golden bowl, a golden plate, and a golden cup, which makes people wonder if Xu Jiayin and Bai Shanshan will feel that these gold ornaments are too heavy.
This villa is not only a luxurious residence, but also the residence of Bai Shanshan. Once Xu Jiayin's second aunt, Bai Shanshan lived a luxurious life in this mansion.
Although after Xu Jiayin's arrest, Bai Shanshan chose to keep a low profile and quit the footage of social media, the exposure of this villa once again aroused people's curiosity.
Bai Shanshan's mansion life is not only a symbol of luxury, but also part of her mysterious relationship with Xu Jiayin, a life destined to trigger endless speculation and attention.
Xu Jiayin's global collection of luxury homes
Xu Jiayin, the business magnate who once controlled the Evergrande Group, has built a series of breathtaking mansions around the world in addition to making a big splash in the business world.
His history of mansion acquisition is impressive. Back in 2009, when Evergrande Properties first went public, he did not hesitate to buy two hilltop luxury villas in Hong Kong, just the beginning of this collector's mansion.
In 2013, Xu Jiayin spent nearly 200 million yuan to buy a luxury beach villa in Queensland, Australia.
Then, with the vigorous development of Evergrande enterprises, he moved his headquarters from Guangdong to Shenzhen, continuing his passion for collecting.
In Shenzhen, he not only bought a mansion in the center of Shenzhen, but also spent hundreds of millions of yuan to buy villas in Shenzhen Bay, creating a palace-like residence.
These are just some of the parts of his mansion collection, most notably the Rutland Gate mansion in London, which was purchased in 2020.
Rutland Gate Mansion, located in the Golden Mile of London, was built in the 1930s. However, in the 90s of the 20th century, it was upgraded by French designer Alberto Pinto over three years and more than 50 million pounds.
The mansion has a complex interior and exquisite architecture, with an area of nearly 6,000 square meters and an excellent location. These factors make Rutland Gate mansions an impressive property.
The mansion had previously belonged to Lebanon's president and Saudi prince, but was eventually purchased by Zhang Songqiao on behalf of Xu Jiayin for 2 billion yuan.
Even more surprising, the owners of the mansion also plan to submit £200 million in renovation plans in 2021.
This staggering amount once again underscores Xu Jiayin's unparalleled luxury lifestyle, which is built on huge debts.
Property recovery challenges
Although Xu Jiayin has been arrested, his family has adopted a strategy of asset transfer.
In 2022, he let his wife flee to Canada with tens of billions of funds through divorce property cutting.
In addition, Xu's eldest son owns a trust fund worth more than $3 billion in the United States, measures that allow his family to live a worry-free life abroad that is difficult to return.
Xu Jiayin implemented high dividends among Evergrande executives, and even after the company's lightning explosion, he still distributed more than 70 billion dividends.
These huge dividends all stem from their dealings with Evergrande Corporation, which come at the expense of ordinary people's hard-earned money. As a result, these huge benefits are difficult to recover through legal means.
Xu's financial strategy, including high loans and unscrupulous financing, has cost banks and ordinary people dearly.
His actions have put many people in trouble, but now it has become extremely difficult to recover the money that was killed.
This is because assets are transferred, complex transactions are involved, and the complexity of legal formalities.
Although Xu Jiayin has fallen, in the face of the challenge of recovering these assets, the recovery of the trapped money is still full of uncertainty.
This event not only marked the end of China's real estate market, but also posed the daunting challenge of recovering assets.
epilogue
The rise and fall of Xu Jiayin, and the end of the Evergrande Group, marked the end of an era in China's real estate market. The myth of real estate wealth has come to an end.
Xu's rise in the business world, his early lending strategy, and high dividends were the price of his wealth and luxury. However, the price of this end is too heavy.
Although Xu Jiayin has been arrested, China's economy will usher in a new beginning. The end of the real estate market will bring with it a range of challenges and opportunities.
However, Xu Jiayin's huge liabilities and hard-to-recover assets will continue to plague banks and ordinary people.
This incident is a reminder that there can be a painful price behind success, and that China's economy and society will have to deal with the impact of this cost.
This is the beginning of a new economic era, but at a high cost.