Zhang Xin, born in Beijing in 1965, is a prominent Chinese businesswoman and real estate magnate. Co-founder and CEO of SOHO China, one of the country’s leading real estate developers, Zhang Xin has played a pivotal role in reshaping the skyline of Chinese cities. After studying Economics at the University of Sussex in the UK and working in investment banking, she co-founded SOHO China with her husband Pan Shiyi in 1995. Zhang Xin is recognized for her entrepreneurial spirit and leadership, navigating the competitive real estate market with innovative designs and sustainable development practices. A trailblazer in a male-dominated industry, she has received numerous accolades for her contributions to business and was listed among Time magazine’s 100 most influential people in 2016. Zhang Xin’s success story reflects her determination, business acumen, and commitment to transforming urban landscapes in China.
Zhang Xin Quotes
1. “Investors don’t like uncertainty. The market is telling us that they need certainty, they need to see where the economy is heading. If the government is committed to continue the Open Door policy, they will need to come up with concrete policies and execution steps to increase confidence.”
— Zhang Xin
2. “When 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
3. “Mark 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 Xin
4. “I think our legal system needs to be developed. Cases of citizens who are detained and then have to wait much too long for a trial – that is scary, for everyone. When someone commits a crime he needs to be charged quickly. Why does this take so long in many cases? I don’t know. Is it because our legal system is still rudimentary? China has promised to modernize its legal system. This has high priority.”
— Zhang Xin
5. “China has consistently surprised us. When I returned from the United States many years ago, it was unimaginable that we would end up where we are now. What China has achieved defies all logic. I credit this to the hard work and enterprising spirit of the Chinese people.”
— Zhang Xin
6. “Many years ago, we were only able to build boxes. Today, architects from all over the world are working with us – Zaha Hadid from London, Gerkan, Marg and Partner from Hamburg, Kengo Kuma from Japan. We brought design and digitalization from abroad to China.”
— Zhang Xin
7. “I’m afraid what we are building today will not have the same impact and sustainability of the architecture of 100, 500, or 1,000 years ago. The buildings of those days were miracles. We don’t perform such miracles today. So we should be a little more modest. For my part, I’ll be glad to show one of my buildings one day to my grandchildren and say: I’m proud of that.”
— Zhang Xin
8. “China 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 Xin
9. “I used to ask myself why American universities are financed through endowments. Now I know: During the early days of America, the state was poor and when citizens wanted to set something up, they needed to collect money themselves. Historically, this was different in Europe. There used to be a strong state, a monarch, or a king. He provided money.”
— Zhang Xin
10. “But it is a worry that there have been so many delays in the reform of China’s state-owned enterprises. We all know that private companies are run more efficiently than state ones. These reforms are very much anticipated for the potential dynamism they could create.”
— Zhang Xin
11. “We have become so quick and effective in building things today. It would be easy to build another Pyramid of Giza or another Great Wall. But these buildings haven’t withstood the test of time because of their building quality. They stand tall because they have a symbolic value, they represent a culture.”
— Zhang Xin
12. “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 Xin
13. “I firmly believe that digitalization has only just begun in China. In addition to the taxi, transport, shopping, and hotel businesses, many other industries will follow education, health care, administration, even the legal branch – everything, really. There is still a lot of opportunity in China for the inventive and ambitious ones.”
— Zhang Xin
14. “I 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 Xin
15. “The question is not about whether it will work or not. It’s how quickly we can pull it off. Structural change will happen. When economies grow, there comes a time when you cannot rely on investment alone. We had that. The return on investment is becoming less and less. So we have to change. The old model doesn’t work anymore. It’s a question of speed.”
— Zhang Xin
16. “Chinese no longer crave so much for food and accommodation, but they do crave democracy. I stand by that. I don’t know which model China will follow.”
— Zhang Xin
17. “Growth will be slower, no one denies that. But the question is: Where are the chances and opportunities now? I see some positive and some negative trends.”
— Zhang Xin
18. “Isolation means a lack of growth. I grew up in China at a time when the country was completely isolated. That era is over.”
— Zhang Xin
19. “No economy, no company, in fact, no individual can develop its full potential today without embracing two fundamental trends – globalization and digitalization. They will dominate for quite some time to come.”
— Zhang Xin
20. “It is worthwhile to engage in something that is close to one’s heart. I had a scholarship. So if I donate money to give brilliant Chinese students an opportunity to study abroad, then this embodies everything I believe in: education, globalization, social mobility. I am an example of social mobility.”
— Zhang Xin
