Chinese billionaire realty queen resigns amid country’s deepening property crisis
China is grappling with a nationwide property crisis. This has given rise to a new phenomenon where founders of builders are leaving their companies. Wu Yajun, billionaire and co-founder of Beijing-based Longfor Group Holdings Ltd., has joined the list. Her resignation as executive director and chairperson of the company sent its shares plummeting. The company has cited health reasons for her resignation.