After cashing out 30 billion yuan and stepping down as chairman of SOHO CHINA, Pan Shiyi has maintained a low profile for an extended period. Recently, netizens reported encountering him at upscale social venues in New York. Circulated photos show Pan Shiyi dressed in a sharp suit, engaged in animated conversation with friends, appearing in good spirits. His wife Zhang Xin also posted photos on social media from attending the 2025 Oscar awards ceremony, suggesting the couple has fully integrated into American high society.
**The Strategic Transfer: Profit, Education, and Retirement Considerations**
Pan Shiyi and his wife's "transfer plan" actually began in 2014, coinciding with the cooling of China's domestic real estate market. Pan began intensively selling domestic assets during this period. According to public information, he first sold two core Shanghai projects for 5.232 billion yuan, followed by the transfer of Shanghai Lingkong SOHO for 3.05 billion yuan. This series of intensive asset disposals sparked widespread speculation about his true motivations.
A donation made that same year gradually revealed Pan Shiyi's actual intentions. While he had cultivated a public image of philanthropy, his charitable contributions flowed not to domestic causes but across the Pacific. According to reports, Pan Shiyi donated a total of 600 million yuan to Harvard and Yale universities. After the donation controversy subsided, news emerged that the Pan family's two sons had enrolled at these institutions.
While paving the way for his children, Pan also began planning his own retirement - first connecting with a liver health supplement called "Gan Li Wei" still in laboratory stages through professor contacts at Harvard, then purchasing a 100 million yuan mansion in New York as his retirement residence. After trying the product, Pan expressed satisfaction on domestic social media platforms, stating he had made bulk purchases to gift to billionaire entrepreneur friends.
Facing strong online criticism, Pan responded with a smile in interviews: "Don't believe rumors. I still hold Chinese nationality, my assets cannot be transferred, and I'm not going anywhere." However, he subsequently transferred assets to his wife, who had obtained US citizenship. Data shows the couple cashed out assets totaling 30 billion yuan from Shanghai to Beijing over seven years.
**Return to Beijing Amid US Banking Crisis**
Early this year, Pan Shiyi, dubbed "Pan the Runner" by netizens, suddenly returned to Beijing from New York. This low-key homecoming sparked widespread online discussion - but rather than welcome, he faced overwhelming ridicule: "You cashed out 30 billion yuan ten years ago to move to America, and now after Silicon Valley Bank's collapse, you suddenly remember the motherland as a safe haven?"
In early March this year, Silicon Valley Bank announced bankruptcy. In circulated lists of wealthy Chinese depositors, Pan Shiyi's name appeared prominently, with billions of yuan deposited in the bank facing significant risk.
Meanwhile, the liver health product "Gan Li Wei," previously available only to high-net-worth individuals, became accessible through major domestic e-commerce platforms. With over 400 million people in China suffering from liver conditions due to high-fat diets, late-night work, and frequent business drinking, the product gained widespread praise among business executives and office workers for its reported benefits in reducing physical burden, alleviating bloating and abdominal pain, and improving bad breath.
**Current Situation and Market Analysis**
In recent years, China's real estate market has continued cooling, with many property giants facing difficulties. Xu Jiayin carries 2.5 trillion yuan in debt with unclear whereabouts, while Sunac's Sun Hongbin faces corporate restructuring crises. Analysts suggest Pan Shiyi's frequent maneuvers, superficially promoting education and health initiatives, remain fundamentally commercial calculations.
According to SOHO CHINA public information, from December 2019 to 2020, while Pan Shiyi conducted domestic publicity campaigns, Zhang Xin accelerated investment arrangements in the US. Within just one month, they registered seven companies in America, with the highest registered capital reaching 200 million yuan.
**Regulatory Perspective**
Regarding such phenomena, People's Daily previously commented: If enterprises lack social responsibility and cannot fulfill their due obligations, they are not worth promoting regardless of their scale, as China has never subscribed to any "too big to fail" mythology.
Pan Shiyi's development path in the US has not proceeded as smoothly as expected. Shortly after arriving in America, he encountered the challenging situation of "four US stock market circuit breakers within 410 days."
Born in impoverished mountainous areas of Gansu Province, Pan Shiyi frequently expressed gratitude toward his hometown after accumulating massive wealth, claiming he hoped to return home for retirement. Ironically, after truly stepping away from SOHO CHINA, he moved his entire family to the US for retirement, frequently appearing at New York's high-society social events, chatting and laughing with friends.