China Vanke founder denies arrest rumors, former journalist urges public opinion to be restraint

(ECNS) -- Wang Shi, founder of Chinese real estate giant Vanke, has denied online rumors that he has been taken into custody. 

The rumors began circulating on Sunday when Qin Feng, a verified Weibo influencer with over 14 million followers, posted on the social media platform that Wang had been detained.

Wang responded on his Weibo later that evening with a post geotagged to Shenzhen, Guangdong Province, saying: "It seems people are more concerned about my situation than I am. Everything is fine. Those spreading rumors will be dealt with by the law."

Wang's wife Tian Pujun also posted on her own Weibo account, questioning that "Shouldn't spreading false rumors come at a cost?"

According to a report by Chinese media outlet The Securities Times in late January this year, rumors had already circulated that Wang was uncontactable. He then posted a cycling video on his Weibo account, specifically marking the date as Jan. 30, indirectly denying the rumors.

Hu Xijin, a Chinese journalist who previously served as editor-in-chief of Global Times, weighed in on the controversy with a post on Weibo to side with Wang, saying Wang is a veteran entrepreneur who has witnessed China's reform and opening up.

"Some people have posted made-up stories about him online, as if they can't wait for something bad to happen, even before the law has passed any judgment on him. That's not only illegal, but also just plain wrong," Hu wrote.

"I hope the public will go easy on this veteran entrepreneur with their words," he said.

Vanke, a large residential real estate developer in China, has faced significant headwinds in recent years. Wang retired as Vanke's chairman in 2017, after which he became honorary chairman.

(By Zhang Dongfang)