China Billionaire Spurs Texas Backlash Over Rural Land Purchases
Sun Guangxin’s connections with the Chinese state have helped spark a nationwide movement to restrict ownership of farmland by foreign entities.
Sun Guangxin in an undated photo.
Photographer: Zhang Shi/Imaginechina/AP Images
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Before a spy balloon hovering above Montana revived US concerns about China’s influence over the homeland, Texas ranchers were worried about billionaire Sun Guangxin’s close connections with the Chinese state.
The former People’s Liberation Army captain built a sprawling empire, prying his way into the restaurant and entertainment industries and selling oil-drilling equipment to China’s state companies. He then made a fortune by turning failing factories into luxe real estate developments.