Zhang Xin born on August 24, 1965, in Beijing, China, is a celebrated Chinese billionaire and businesswoman. As the co-founder and former CEO of SOHO China, one of the country's leading real estate companies, she has made a significant mark on the industry. Beyond business, Zhang is known for her contributions to architecture, philanthropy, and the arts. She currently leads Closer Media, a film production company based in New York City.
Early Life and Education
Zhang Xin's story begins with humble roots. Born to Burmese Chinese parents who worked as translators in Beijing, she faced early challenges when her parents separated during the Cultural Revolution. At the age of 15, she moved with her mother to Hong Kong, where they lived in a single small room. To save for an education abroad, Zhang worked for five years in factories making garments and electronics.
By 19, Zhang had saved enough to move to London, where she studied English at a secretarial school in Oxford while also working in a fish and chip shop. Her hard work paid off when she earned a scholarship to study economics at the University of Sussex. Zhang graduated with a bachelor’s degree and then pursued a master's degree in development economics at the University of Cambridge, where she focused her thesis on the privatization of Chinese factories. In 2013, the University of Sussex awarded her an honorary doctorate for her outstanding achievements.
Career Path: From Finance to Real Estate
Zhang Xin began her career at Barings PLC in Hong Kong, where her expertise in China's privatization process earned her a prominent role. Following Barings' acquisition by Goldman Sachs in 1993, Zhang moved to New York City, where she facilitated the public listing of Chinese factories on the stock exchange.
Motivated by China’s rapid urban growth, she returned to Beijing in 1994, where she met her future husband, Pan Shiyi. Together, they co-founded Hongshi (Red Stone), which later evolved into SOHO China in 1995. Over the next decade, Zhang and Pan led numerous development projects, including the Commune by the Great Wall, a boutique hotel near Beijing. Their company soon became the largest property developer in China, earning Zhang the title "the woman who built Beijing."
Growth and Philanthropy
Under Zhang's leadership, SOHO China shifted from selling properties to acquiring and leasing them. This strategy included major investments in New York’s Park Avenue Plaza and the General Motors Building. In 2015, she launched SOHO 3Q, a successful shared office space sector in major Chinese cities.
Zhang also focused on giving back. In 2005, she and her husband established the SOHO China Foundation to fight poverty through education. In 2014, they launched the SOHO China Scholarships, a $100 million program that provides funding for underprivileged Chinese students to study at prestigious international universities, including Harvard, Yale, and the University of Chicago.
Recognition and Awards
Zhang Xin’s innovative work has been recognized worldwide. In 2002, she won a special prize at the 8th International Architecture Exhibition of the la Biennale di Venezia for the Commune by the Great Wall. She has been named among the world’s most powerful women by Forbes and consistently ranks as one of the top businesswomen globally. Zhang is also a member of the World Economic Forum, a trustee at the Museum of Modern Art, and serves on the Harvard Global Advisory Council.
Personal Life and Legacy
Zhang Xin and her husband, Pan Shiyi, have two sons and are followers of the Baháʼí Faith. During the COVID-19 pandemic, Zhang moved to the United States and stepped down as CEO of SOHO China in September 2022 to focus on philanthropic and creative projects. She continues her passion for the arts as the founder of Closer Media.
Conclusion
Zhang Xin’s journey from a factory worker in Hong Kong to a billionaire businesswoman and global philanthropist showcases her determination, vision, and entrepreneurial spirit. Through her pioneering work in real estate and commitment to education and the arts, Zhang Xin has become a respected and influential figure on the global stage. Her story serves as a powerful inspiration, proving that with hard work and a bold vision, extraordinary achievements are possible.ReadMore