CommentIn April post, former industry heavyweight Pan Shiyi stresses 'restoration of trust'High-rise buildings in Beijing. Real estate developers in China have been working to recover from the property slump, but the path is challenging. (Photo by Tomoki Mera)KENSAKU IHARAJune 23, 2026 04:02 JSTHONG KONG -- An April social media post became the subject of public discussion in China after it argued that the real estate industry's Ponzi-scheme investment model had fueled a property bubble. The post was deleted soon after publication, but copies spread online.