The former husband of Faye Wong, China’s “Queen of Cantopop”, has spoken of his sadness about his current situation and inability to pay off a 40 million yuan (US$5.6 million) debt, attracting sympathy on mainland social media.
Li Yapeng, 53, a native of Xinjiang autonomous region in northwestern China, is an actor-turned-businessman.
In April 2023, a Chinese court ordered him to repay the money to Chinese property investment company, Beijing Taihe Youlian, that he had made a deal with in 2012.
Since then Li has been living a frugal lifestyle, which includes frequently eating takeaways, Yangcheng Evening News reported.
In a live-streaming video on February 26, which went viral, he is seen eating food, then bursting into tears.
“You order takeaway food on the fifth day of the Chinese Lunar New Year,” a food delivery man said, according to Li, mocking himself.
“I think it’s not good,” he says solemnly.
Li explained that the delivery man recognised him because he had ordered takeaways for an entire week.
With a sad expression and his chin propped on his hands, he starts to weep and talks about living in debt for more than 10 years.
“The debt has not been cleared and there’s still a lot to pay, so I will keep making money to repay it,” he said.
Li and Wong married in 2005 and divorced in 2013, and a year later he announced he would be quitting acting to focus on his business.
A project that began in 2012 proved to be the source of his financial troubles.
At that time, a company he co-founded with his brother, forged a partnership with Taihe Youlian Investment to develop leisure tourism in Yunnan province in southwestern China.
After Li found he could not repay the US$5.6 million investment money at the agreed time of three years later, the firm sued the brothers and a court ruled they must bear the debt plus interest.
Li lodged a three failed appeals against the ruling.
Despite being legally forced to pay the debt by the court in April last year, Li has still been unable to clear it.
He said he has now reached an agreement with the firm about the repayments and he is striving to settle the debt.
Li’s story was met with understanding and sympathy from many people online.
“We shouldn’t laugh at him. At least he does not shirk responsibility but works hard to clear off the debt,” one online observer said.
“I’m sure he will repay all his debt. Do not give up,” said another.