中共全網封剎！潘石屹發文說中國房地產是“龐氏騙局”，幸好他“肉身翻牆”了，不然..中共為封VPN，準備了一年！服務端被大規模封禁，中國人上外網怎麼辦？｜大宇拍案驚奇

Hello everyone, I'm DaYu One of China's most famous real estate developers, Pan Shiyi Posted publicly on April 16 Define China's real estate industry as a Ponzi scheme Fortunately, he has already transcended the physical barrier in his flesh. To be honest, I wouldn't be invited for a chat by the CCP's lying party. However, those in mainland China who attempt to virtually bypass the internet firewall are not so fortunate. The Chinese Communist Party has been raising fish for nearly a year. April 1st, concentrate on cutting off internet access at airports nationwide Simultaneously impose penalties on individual users who circumvent the firewall. Also targeted overseas film and television materials on cloud storage services On one side are those outside the wall who dare speak the truth. On one side, there is a crowd inside the wall who wish to see the truth. They are actually all seeking the same thing. It's the truth What a pity. This is precisely what the Chinese Communist Party most dislikes and avoids discussing at all costs. SOHO China's publisher, Pan Shiyi, before April 16 I published a long article on my personal public account. The title is "My Reflection" He admitted something that every real estate professional already knows. But what no one has ever dared to uncover is China's Real Estate Over the Past 30 Years That's exactly following the Ponzi scheme path. This industry has now been declining for 47 consecutive months. The losses have reached trillions. Not long after the article was published Phoenix Online and Sina Finance, among other mainland Chinese media outlets All versions he reposted were completely deleted. Such a guilty act of deletion is all the more ironic. Pan Shiyi mentioned in the text Thirty years ago China does not have a genuine real estate market. Housing is allocated by the workplace. Welfare housing allocation 1998 was a turning point. The state has abolished the system of distributing housing as a welfare benefit. Replace the current commercial housing system But when the market first started, it was very quiet. The developer and the local government don't know what to do. So how did it end up in the end? Study in Hong Kong Pan Shiyi recalls in the article Back then, a group of real estate developers Called by the government to discuss countermeasures They're all saying things based on half-knowledge. So every time I go to Hong Kong, I study hard. Collect mortgage documents for the property Shoot the sample room Photograph the model Learning sales methods Speak the jargon Which property development's launch is this mortgage-related term referring to? That's what I learned from Hong Kong back then. Studying itself is not wrong. The problem arose later That high-leverage system used in Hong Kong The high-turnover model was brought back as well. It quickly loses its original flavor and becomes distorted once it gets to the domestic scene. To stimulate home buying That bank has launched mortgage loans. Initially, a 50% down payment meant the risk was still relatively controllable. But the market response was far lower than expected. The down payment keeps getting lower and lower. 40%, 30%, 20% Even developers and banks Jointly launched a 5% down payment What it means is the money you borrowed. 19 times their own capital Then there are still people proposing zero down payment. That Pan Shiyi mentioned in the text He once appeared on CCTV's "Dialogue" program. Publicly oppose zero down payment Saying the lever is infinite Gambling with other people's money entirely The risk has no bottom. As a result, when this statement was broadcast All of it was completely剪掉. Then why cut it off? It's very simple. Local governments need to grow. The bank wants to extend a loan. That company wants to sell the property. Nobody wants to hear bad news. Leverage is stacked layer upon layer like this. At the same time A trend has become popular in the industry Concepts introduced from abroad Land Bank The more land reserves one holds, the better. The larger the scale, the more... The more of them there are, the easier it is to go public. Issuing shares and bonds The investment bank analyst wrote a report praising it. Developers are疯狂 grabbing land A real estate company will soon emerge Land reserve has exceeded 100 million square meters. This恰好 also suits the local government's taste. Land finance Land sale revenues are a major source of income for many places. Multiple forces exerting concerted efforts in the same direction The direction of industry competition has completely changed. Who built the house well? Who ended up acquiring more land? Faster financing Even more aggressive expansion In such an atmosphere, one can only say nice things. Who raised the objection? It's just alternative. A black sheep of the family That was precisely because Pan Shiyi was so bold in his speech back then. Those people squeezed out of the mainland real estate industry Then Pan Shiyi pointed out After all these years Experts and the government have focused on Always blaming the rapid increase in housing prices But the real issue isn't housing prices The very operating model of the entire industry is wrong. He broke this pattern down into four stages. Developers survive on pre-sale proceeds. Use today's house-selling money to cover yesterday's deficit Companies rely on borrowing new to repay old for cash flow. Local governments live off land sales. Subjectively, this tends to drive up land prices. Homebuyers believe that housing prices will always rise. Buying a house is not for living in It's for reselling to make a profit. These four items are bundled together. Any single link broken The rest all collapsed. That which supports its operation Not sound management and genuine cash flow but the next round of financing The next buyer Next round of price increase Speak in simple, everyday language This is called "Pass the Flower by Drumbeat." Using professional terminology This is a Ponzi scheme. Pan Shiyi personally witnessed a sales scene He saw everyone first paying 50,000 yuan to get a room number. The apartment numbers themselves soon began to be resold at inflated prices. The people in line were not there to stay. but rather assumes that someone will take over at a higher price Pan Shiyi said Four words flashed through his mind at that moment. Ponzi scheme He wrote: Those people who stood in line back then Not all of them are speculators. Many people were simply caught up in it Inside the chain that seems destined to keep rising forever In that chain Everyone thinks they can leave before the drumming stops. But in the end, only those who can truly leave Eternity is merely for the few. 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Moreover, it is not overly warming and does not cause internal heat. Suitable for a wide range of people For people of all ages and genders, and those under high stress The Night-Owls They are all very suitable. Can be taken long-term Friends who need it, you know You can click below the program Top link to purchase You can also during Eastern Time business hours 9 a.m. to 6 p.m. Call the ordering hotline 1-800-368-8878 Verbal order Regardless of online Still buy by phone Use coupon code DAYU is DaYu Everyone can enjoy an 85% discount. Good Then continue speaking According to the National Bureau of Statistics of the People's Republic of China Data released on April 16 Q1 2026 National Real Estate Development Investment 177.2 billion yuan A 11.2% decrease compared to the same period last year The decline is greater than that from January to February. Increase by 0.1 percentage point Sales revenue of newly built commercial properties A 16.7% decrease compared to the same period last year The real estate developers' funding chain is even worse Personal Mortgage Loan A 34.6% decrease compared to the same period last year Down payment and advance payment decreased by 20.1% Domestic loans decreased by 23.7% Second-hand residential property prices in first-, second-, and third-tier cities Year-on-year decreases of 7.4% respectively 6.2% and 6.4% The entire industry has been declining for 47 consecutive months. Pan Shiyi speaks frankly Have come this far It's not just the fault of a few developers. It is a system. finance Local finance Corporate expansion Societal expectations The result of their combined effect He doesn't think it's scary for a business to fail. Uphold the bottom line of integrity The worst-case scenario is the company's bankruptcy. The losses are primarily borne by oneself. What is truly fatal, however, is When an industry gradually departs from integrity Build a business model based on continuous leverage On the constant pursuit of finding someone to take over And also intentionally create hallucinations Draw more and more people into it Back then The damage would not be limited to just one company. rather, the financial system Local finances and countless ordinary families Integrity is the bottom line. We have held onto this bottom line. Even if one makes a mistake There is still room for correction. Lost this底线 No matter how big the industry Even higher growth They might all collapse overnight. The prescription he provided consists of three items. The outstanding issues must be addressed as soon as possible. The longer it is delayed The harder it is to recover During the processing Homebuyers must be prioritized first. The fundamental solution is to recover integrity. The response triggered by this article is very complicated. Because the person saying it is Pan Shiyi Since 2014 He began systematically selling off SOHO China's core assets in mainland China Cumulative cashing out exceeds 30 billion yuan September 2022 He resigned from all positions at SOHO China. Lives in the United States with his wife, Zhang Xin Recent reports also indicate Pan Shiyi and his wife Back in the U.S., starting up as a developer again Adopt a strong cash flow model There is also a behind-the-scenes scale exceeding $5 billion. Cross-border Family Capital Group Some people don't believe it. Why didn't you do it earlier? Now running to the U.S. to reflect Families trapped by unfinished buildings Who will give them an explanation? There is logic to this kind of skepticism. But I still feel I need to make one thing clear This article by Pan Shiyi The underlying logic of China's real estate Writing this so openly for the first time Regardless of his motives There is value in saying these words aloud. How much more so then The version of this article published on mainland China media They have all been completely deleted already. Multiple media outlets, including Epoch Times, have verified The article is on Phoenix Online Mainland Chinese media such as Sina Finance have reprinted Related versions They have all been completely deleted. That means China's real estate market is a Ponzi scheme. These few characters In today's Mainland China Has become a sensitive term In summary According to X netizen writer Choi Seung-ho A shared post Pan Shiyi mainly discussed four things. First The essence of China's real estate collapse is not housing prices But the pattern gets out of control Second Developers survive on pre-sales and financing. Then the banks keep extending loans and increasing leverage. Local governments rely on land sales Homebuyers bet on rising housing prices Any link broken The system will crash. The third The industry's essence once came close to a Ponzi scheme. Actually, essentially it is Fourth The fundamental issue is the loss of integrity. This article discusses everything in a very profound manner. The CCP fears large-scale deletion across the entire internet. And if you now want to bypass the firewall by means of... Take a look at the original article in overseas media. For some friends of the Chinese Communist Party This road is now facing challenges never seen before. 5:00 PM on March 8 Liangzi Lake District, Ezhou City, Hubei Province A man surnamed Xu Using a Honor smartphone at home Through the GreatWall-bypassing software Clash Scroll TikTok for X Like this The result is Liangzi Lake District Public Security Bureau Show up at his doorstep They cite the so-called Chinese Communist Party Regulations on the International Internet Management Articles 6 and 14 To issue a warning And a fine of 200 yuan Order to cease online connectivity On the same day The situation in Xiaogan City, Hubei Province, is even more exaggerated. Xinhua Police Station dispatched more than ten police officers. Concentrated action Rushed into Changzheng South Road in Xiaonan District What is Qiankun New City? Building 4 A real-name male individual was investigated. The charge also used VPN access to overseas networks Fined 500 yuan This incident has sparked a lot of discussion. An ordinary person Scrolling through short videos on my phone at home Check out a tweet posted by a foreigner Summon over ten police officers to come to the door A fine of a few hundred dollars This is not an isolated case. Hubei online activist Zhang Cheng Tell the reporters from Radio Free Asia Now many people have installed so-called Anti-fraud software Then these people go through the wall again. The public security system will display it. I'll just have you come to the police station for investigation. That is an inevitable outcome. For example, the software provided by the Chinese Communist Party to you Giving you under different names But it has a backdoor. It is watching you. There is one more detail worth noting. March 2026 China National Intellectual Property Administration A technical patent has been disclosed. Fujian Zixun Information Technology Co., Ltd. Apply in October 2025 The content is about identifying computers. Is the VPN enabled? It has already entered Substantive Review Phase Mr. Zheng, a software engineer from Shenzhen, analyzes Such technologies typically through Virtual NIC in identification device To determine whether a VPN has been used Once deployed on enterprise or public terminals Such behaviors might then be identified. The issue is some development environments themselves It will also generate a virtual network interface card. If judged according to the same rule Normal use might also be treated as an exception. So for the average user, It's a triple encirclement now. The phone has anti-fraud software monitoring behavior. Has new patent technology identifying VPN There might be police waiting outside the front door at any moment. Fines imposed on individuals are just one aspect. Larger actions take place on the server side. First, let's clarify a term The airport referred to in mainland China is not a real airport. a VPN service provider Most airports adopt the transfer model. The user first connects to the domestic data center's relay server. Then forwarded by the intermediate server to the overseas node The advantage of this architecture is its high speed. Low latency The downside is that the transfer service counter is a real machine. Located within China's territory Subject to the jurisdiction of the Chinese Communist Party's laws And then, law enforcement methods Starting May 2025 Law enforcement officers proactively purchase airport subscriptions. List of node IPs Through the ISP notification mechanism Tracing back to the behind-the-scenes data center This process lasted nearly a year. Equivalent to raising fish Go to record which data centers are responsible for the relevant tasks. April 1, 2026 Unify and close the net IDC data centers in multiple provinces including Guangdong, Shanghai, and Beijing Receive instructions simultaneously Unauthorized cross-border servers Perform physical disconnection Not banning IP Not speed-limited Just unplug the network cable Disconnect the power source Even the entire machine is taken off the shelf Some transit nodes in Hong Kong Also affected How bad was the outcome? Airports relying on domestic transit Node 100% failed Not a downgrade It has completely vanished The servers are all offline. Recovery is out of the question. What's even more fatal is The once-considered safe haven by the industry Enterprise-grade dedicated line Also falling into ruin According to internal industry notifications Granularity of regulatory oversight Has already delved deeply into traffic feature analysis Once the dedicated line entrance is identified Characteristics of Cross-Border Agreements The operator will directly cut off the entire line. That notification letter from Jiangsu side Has already been sent to the corporate client Effective April 1, 2026 Carry out a special rectification campaign targeting illegal cross-border access Immediately shut down the IP address that has been reported. No deadline for rectification set Industry analysis of the past The era when changing IP addresses equaled rebirth is over. The airport's main challenge at present is True Resource Crisis Once, high-speed nodes were just a few dollars a month. Will become history So how do you get around the firewall now? Help the people on the mainland break through the information blockade to understand the truth It is truly an urgent priority. Some anti-communist technical experts from overseas Develop a new technology One-click wall bypass You are inside China No need to use any kind of proxy tool As long as one is obtained Links to circumvent the firewall with such technical support Regardless of adults or children Older people who still aren't very good at using the internet Just give him a link He can directly bypass the wall and go outside with just a single tap. Browse the truth information from overseas safely and securely Moreover, this technology test has proven effective. I also consulted with overseas technicians. They say this technology is essential under the current circumstances. Chinese people still benefit from circumventing the firewall. The project is currently underway. Many mainland friends have also benefited. The more people who know the truth The more it promotes change in China But maintain this project Continual need for financial support Venue servers, etc. All of them require financial resources. Currently, it's every 2,000 U.S. dollars. Approximately 100 such items can be generated One-click proxy link without requiring a VPN tool For this reason I am collaborating with the Genesis Media Foundation overseas. Launch a crowdfunding campaign here Fundraising for this one-click wall-crossing technology Every single donation from you Metropolitan areas transform into a series of no-wall-breaking links. Fly into mainland China Benefit the people The technical team will target the distribution of these links. I've pinned the donation link in the comment section. Friends with extra capacity in life We look forward to your support. Small donations are equally meaningful. I still hope This month, I can raise between 10,000 and 20,000. Go support them And then? Genesis Media Foundation The unit responsible for the fundraising project It is recognized by the U.S. Internal Revenue Service. 501(c)(3) nonprofit organization Your donations have clear and specific purposes. The donor will still receive a reading report. You will know the impact your donation makes Good That concludes today's program. Welcome to share and forward our current episode We also welcome your comments in the comment section. Participate in the discussion Thank you for watching. See you in our next episode.