Over the past year, property mogul Sun Hongbin has emerged as the white knight in more than $17bn of Chinese deals, capping a remarkable comeback for an entrepreneur who has had more than his fair share of setbacks.
His company, Sunac Real Estate Group, has catapulted to seventh among China’s property developers, jumping four spots in the rankings over the past 18 months as it snapped up assets from other private developers.
But Mr Sun, who has resurrected himself twice — once upon leaving prison 23 years ago and again after a corporate collapse about a decade ago — may have hit a new obstacle: Beijing’s latest assault on China’s debt-laden tycoons.
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