Pan Shiyi, chairman of Soho China plans to issue a currency of his own

[Coinsforever]

Pan Shiyi, chairman of Soho China plans to issue a currency of his own/

Pan panned for 'Panbi' currency and cheapening Steve Jobs

Staff Reporter 2011-10-28 11:16 (GMT+8)



Real-estate tycoon Pan Shiyi unveiled his 'Panbi' banknotes on his microblog, saying he hoped the central bank wouldn't mind. (Photo Courtesy of Pan Shiyi's microblog)

Pan Shiyi, chairman of Soho China, the largest real-estate developer in Beijing, said on his Sina Weibo microblog on Wednesday that he would like to publish a currency of his own — featuring his likeness — in a move which his detractors have responded to with both anger and ridicule.

After the death of Apple co-founder Steve Jobs earlier this month, Pan courted controversy by saying the best way to honor the memory of Jobs would be for Apple to offer its bestselling iPad and iPhone for under 1,000 yuan (US$157).

Pan's remarks were slammed as disrespectful by internet users in China, who said Pan should offer affordable real-estate prices after he himself passes away.

"If Mr Pan passes away, please offer houses below 1,000 yuan per square meter. More than one billion people will remember you," one said.

On Wednesday, Pan unveiled his Panbi, or Pan currency, on his microblog feed. His one-Pan bill looks suspiciously like a Chinese 100-yuan note, except with a picture of Pan on the front instead of Mao Zedong.

After his Panbi was released on his microblog, Pan discovered that his Pan currency had become the hot topic regarding his company. As he arrived at an airport later on, Pan found "almost everybody" appeared to be laughing at him behind his back. "I felt as if I had nothing on," he wrote.

The back of the Panbi features a quote from the Baha'i faith, of which Pan is a prominent practitioner, preaching its tenets on his microblog from time to time. In his latest post, Pan says he hopes China's central bank won't object to the new currency, but officials said it is inappropriate to use images of currency in advertising.

Pan's move is seen as a marketing move for this property projects. In addition to the Baha'i quote, the back of the one-Pan bill features one of his new Wangjing Soho developments in Beijing, Soho China's logo and a sales hotline number.

Netizens ran with the joke, circulating a modified Panbi with a value of one Pan equaling 1,000 yuan per square meter of real estate.

References:

Pan Shiyi 潘石屹


Source :wantchinatimes

[Figleaf]

Nothing new

In 1787, heavy metal boss John Wilkinson issued copper coins with his portrait made to look like the king. The "London magazine" famously reacted with a satyrical poem, making him a "nouveau riche" without manners for having earned, rather than inherited his fortune:

So Wilkinson, from this example
Gives of himself a matchless sample!
And bids the Iron monarch pass
Like his own metal wrapt in Brass!
Which shows his modesty and sense,
And how, and where, he made his pence.
As iron when 'tis brought into action,
Collects the copper by attraction,
So, thus, in him 'twas very proper,
To stamp his brazen face on Copper.

BTW, my experience is that real estate tycoons who make a lot of noise soon lose a lot of money. Remember Donald Trump and Maup Caransa?

Peter

[Coinsforever]

Nothing new

I would say .

In democratic countries nothing new , but for PRC  it is new & bold action.

Cheers