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Beauty and the Bucks: The costly love affairs of China's entrepreneurs

(Xinhua)

08:26, November 08, 2012

BEIJING, Nov. 7 (Xinhua) -- The old Chinese saying, "No hero can resist the beauty of a woman," remains relevant today, as the love affairs of China's business tycoons are not only making tabloid headlines but may also be affecting stock markets.

Wang Shi, 61, board chairman of Vanke, China's largest property developer, is allegedly involved in a love affair with Tian Pujun, the 31-year-old star of a popular TV drama.

Wang, a high-profile entrepreneur currently studying at Harvard, could not be reached for comment, but he retweeted a message on Sina Weibo in which the writer called on the public to focus on Wang's career instead of the gossip.

Pan Shiyi, another property development giant as well as a close friend of Wang's, joked on Weibo that Wang is rumored to cook for his girlfriend every day.

Meanwhile, microbloggers have enthusiastically and amusingly warned Pan's wife, Zhang Xin, to "keep an eye" on her husband.

Wang's unconfirmed love affair seems to have influenced his business. Vanke's stocks rose by more than 5 percent in the week since microbloggers started to spread the word about his alleged affair.

According to figures released on Monday, Vanke's sales revenue topped 13.7 billion yuan (2.2 billion U.S. dollars) in October, marking the company's best performance this year.

Zhou Biwen, a real estate expert at Beijing Institute of Technology, said the love affair may turn out to be good press for Vanke.

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