Princeling’s Surprise Default Roils Global Investors in China
- Fantasia’s politically connected founder under debt pressure
- Lack of help may signal Beijing’s resolve to clean up sector
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Zeng Jie’s uncle was once China’s vice president. Her grandfather served as Mao Zedong’s minister of internal affairs.
Now the 50-year-old “princeling” -- a term that refers to the descendants of powerful Communist Party founding members -- is gaining renown of her own as a central figure in the turmoil rippling through China’s real estate sector.