Chinese property outflows won’t be helped by this

Thursday, 7 February 2019

Billionaire property developer and political party donor Huang Xiangmo is not only stranded in Beijing, suspected by many of being a Chinese Communist Party influence agent, but he is also facing major problems across his diverse portfolio of Australian real estate assets.

Mr Huang, now an adviser to his Yuhu Group, which is owned by his wife Jiefang and his son Jiquan (known as Jimmy), has just 13 days to come up with another $10 million to postpone the completion date on a major Sydney real estate deal or face the prospect of paying for the $380m property development, the Bakehouse Quarter, in full.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.