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Property demand in China stable despite turbulence: Fang Fenglei

Hopu chairman confident Beijing's new tech rules will transform online companies

Fang Fenglei, 69, spearheaded investments in China and was involved in major acquisitions and listings there as a partner in Goldman Sachs in the early years of the investment bank's expansion into the country.

BEIJING -- Uncertainty in the Chinese property market has sent prices falling, but Fang Fenglei, popularly known as China's "first investment banker," believes the market is turning a corner and starting to stabilize.

Fang, chairman of private equity group Hopu Investment Management, has long played a role in large acquisitions and the listings of big Chinese companies. For more than 20 years, he worked with Goldman Sachs to build its business and win deals in China, but following the lifting of limits on foreign investment, the bank bought out Fang's stake in their joint venture in October.

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