Social Issues

Chinese Property Tycoon Accused of Bribing US Officials to Get Construction Permits

Chinese Property Tycoon Accused of Bribing US Officials to Get Construction Permits
The logo of Guangzhou-based property developer R&F Properties is pictured at a strategic cooperation signing ceremony in Beijing, China July 19, 2017. Reuters/Jason Lee/File
David Chu
&
Olivia Li
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A Chinese real estate billionaire is facing extradition to the United States from London for allegedly paying bribes to obtain permits for a construction project in San Francisco.

Zhang Li, 69, a former official of the Guangzhou Municipal Government, is a co-founder and CEO of Guangzhou R&F Properties, which once ranked as one of the top 10 developers in China. The company’s sales revenue in 2020 exceeded 130 billion yuan (around $17.98 billion).

David Chu is a London-based journalist who has been working in the financial sector for almost 30 years in major cities in China and abroad, including South Korea, Thailand, and other Southeast Asian countries. He was born in a family specializing in Traditional Chinese Medicine and has a background in ancient Chinese literature.
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