HONG KONG - Born into a peasant family in rural China, Yeung Kwok Keung's rags-to-riches tale inspired millions across the country until his Country Garden empire spiralled into crisis this year.
In a country where staying humble and a low profile are seen to be synonymous with success, Yeung played it by the book even after his company became one of China's largest. Famous for its slogans "five-star living for you" and "one can live in a villa for just 500,000 yuan " in the early days of its business, the developer built scale by acquiring cheaper and vast amounts of land from local governments, demonstrating Yeung's strong ties with authorities.
Early this year, Yeung ordered that a wartime movie be played in a monthly meeting with senior managers, telling staff that they had to unite and fight in the face of the current debt crisis, a former employee said.
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