{"id":125056,"date":"2011-10-17T22:25:59","date_gmt":"2011-10-18T05:25:59","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=125056"},"modified":"2011-10-17T22:25:59","modified_gmt":"2011-10-18T05:25:59","slug":"chinas-new-unofficial-currency-panbi%ef%bc%88%e6%bd%98%e5%b8%81%ef%bc%89","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2011\/10\/chinas-new-unofficial-currency-panbi%ef%bc%88%e6%bd%98%e5%b8%81%ef%bc%89\/","title":{"rendered":"China&#039;s New Unofficial Currency: Panbi\uff08\u6f58\u5e01\uff09"},"content":{"rendered":"<p>As Steve Jobs\u2019 death triggered <a href=\"http:\/\/chinadigitaltimes.net\/2011\/10\/steve-jobs-dies-chinese-reactions\/\">enormous reactions from Chinese netizens<\/a>, the Beijing real estate tycoon <a href=\"http:\/\/chinadigitaltimes.net\/china\/pan-shiyi\/\">Pan Shiyi<\/a> has also joined the wave by posting the following tweet on his microblog:<\/p>\n<blockquote><p>@Pan Shiyi: Apple\u2019s board of directors should make the following decision: To immediately manufacture iPhones and iPads that are under 1000 Chinese Yuan (about $157 U.S. dollar) so that more people can afford Apple products. This is the best way to commemorate Jobs.<\/p>\n<p>@\u6f58\u77f3\u5c79\uff1a\u201c\u82f9\u679c\u201d\u8463\u4e8b\u4f1a\u5e94\u8be5\u9a6c\u4e0a\u505a\u4e00\u51b3\u5b9a\uff1a\u5927\u91cf\u751f\u4ea71000\u5143\u4eba\u6c11\u5e01\u4ee5\u4e0b\u4e00\u90e8\u7684iPhone\u624b\u673a\u548ciPad\uff0c\u8ba9\u66f4\u591a(\u4eba)\u7528\u4e0a\u201c\u82f9\u679c\u201d\uff0c\u8fd9\u662f\u5bf9\u4e54\u5e03\u65af\u6700\u597d\u7684\u7eaa\u5ff5\u3002<\/p><\/blockquote>\n<p>The following response, which focuses on <a href=\"http:\/\/chinadigitaltimes.net\/china\/housing-bubble\/\">China&#8217;s surging housing prices<\/a> rather than Jobs&#8217; death,\u00a0has apparently caught many netizens\u2019 attention and been widely re-posted:<\/p>\n<blockquote><p>@Tang Rouding 9983: When Mr. Pan passes away some day, your company should offer homes that are under 1000 Chinese Yuan per square meter. Over a billion people will commemorate you by then.<\/p>\n<p>@\u5510\u82e5\u4e019983\uff1a\u6f58\u603b\u54ea\u5929\u8981\u4e5f\u53bb\u4e16\u4e86\uff0c\u4e5f\u8bf7\u8d35\u516c\u53f8\u63a8\u51fa1000\u4e00\u5e73\u7c73\u7684\u623f\u5b50\u5427\uff0c\u5341\u51e0\u4ebf\u4eba\u6c11\u90fd\u4f1a\u7eaa\u5ff5\u60a8\u3002<\/p><\/blockquote>\n<p>Pan soon deleted the original tweet. However, his new title, \u201cthe 1000 Pan,\u201d has been spread all over the cyberspace. Meanwhile, a new form of currency named \u201cPanbi,\u201d has also been created by netizens [&#8220;bi&#8221; means money in Chinese]. According to netizens&#8217; definition, Pan is the base unit of Panbi, and one Pan equals 1000 Yuan\/sq m. Thus, an apartment home that normally costs 24,000 Yuan\/sq m would only cost 24 Pan\/sq m in the world of Panbi. Here, netizens have turned their frustration at China&#8217;s housing bubble into a humorous yet sarcastic\u00a0joke.<\/p>\n<p>Below is a sample of a bill of one Panbi which features Pan&#8217;s portrait:<\/p>\n<p><a href=\"http:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/P201110091414452871912328.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-125057\" src=\"http:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/P201110091414452871912328.jpg\" alt=\"\" width=\"373\" height=\"168\" srcset=\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/P201110091414452871912328.jpg 373w, https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/P201110091414452871912328-300x135.jpg 300w\" sizes=\"auto, (max-width: 373px) 100vw, 373px\" \/><\/a><\/p>\n<p>On top of the bill it reads \u201cSOHO Bank of Real Estate of China.\u201d <a href=\"http:\/\/chinadigitaltimes.net\/china\/pan-shiyi\/\">Pan Shiyi<\/a> is the founder and president of SOHO China, the largest real-estate developer in Beijing.<\/p>\n<p>Netizens have also made a chart comparing major cities\u2019 average housing prices by using Pan as the currency unit:<\/p>\n<p><a href=\"http:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/ranking1-5.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-125058\" src=\"http:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/ranking1-5.jpg\" alt=\"\" width=\"383\" height=\"314\" srcset=\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/ranking1-5.jpg 383w, https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2011\/10\/ranking1-5-300x245.jpg 300w\" sizes=\"auto, (max-width: 383px) 100vw, 383px\" \/><\/a><\/p>\n<p>Following are some more examples of netizens\u2019 responses that explain why there would be a joke like this in the first place:<\/p>\n<blockquote><p>@Jiafu Erxiaojie: It\u2019s not that we don\u2019t like the 1000-Yuan iPhone4s, it\u2019s just that we\u2019d prefer 1000-Yuan homes a lot better.<\/p>\n<p>@Yezhiyexing: Mr. Pan\u2019s hoping that we\u2019re playing with our new iPhone4 so that we can temporarily forget the pain of having to pay dozens of Pan for our homes.<\/p>\n<p>@Post-70 Xiaoheizi: It\u2019s not just a random saying or whatever Pan was trying to justify&#8211;People are complaining about the skyrocketing housing prices with contempt and frustration.\n<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>As Steve Jobs\u2019 death triggered enormous reactions from Chinese netizens, the Beijing real estate tycoon Pan Shiyi has also joined the wave by posting the following tweet on his microblog: @Pan Shiyi: Apple\u2019s board of directors should make the following decision: To immediately manufacture iPhones and iPads that are under 1000 Chinese Yuan (about $157 [&hellip;]<\/p>\n","protected":false},"author":980,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[99,2,38,4202],"tags":[6182,4393,1826,14812],"class_list":["post-125056","post","type-post","status-publish","format-standard","hentry","category-cdt-highlights","category-economy","category-the-great-divide","category-translation","tag-housing-bubble","tag-housing-prices","tag-pan-shiyi","tag-steve-jobs","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China&#039;s New Unofficial Currency: Panbi\uff08\u6f58\u5e01\uff09<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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