At the end of 2012, Ren Zhiqiang, the chairman of Huayuan Real Estate Beijing, forecasted "Next March, housing prices will skyrocket." Guo Jianbo, the Chairman of Shenzhen Actis Real Estate, thoroughly opposed this forecast. Guo offered Ren a bet: If by next March housing prices do in fact go up, he'd streak down Beijing's Chang'an Avenue for 10 km. If, however, Ren was wrong, he'd have to issue a public apology. Over the last few months, this friendly wager has become a popular topic of conversation on Chinese social media sites.

On April 1, the China Index Academy released its data for the previous month. According to the report, of the 100 cities sampled nationwide, housing prices rose in 84 of them. Among them, housing prices were up more than 2 percent in Beijing, Guangzhou and Shenzhen.

Several days earlier, on the evening of March 30, Guo Jianbo already admitted defeat, stating that he'd apparently given too much weight to the gloomy outlook of the people around him. True to his word, he submitted his request to streak on the Beijing police's Weibo account "@平安北京". On April 1, the police responded, informing Guo that he had no legal obligation to streak, advising him to "act according to the law". To this, Guo responded that if the data confirmed that he'd lost the bet, he'd fulfill his side of the agreement, regardless of whether it was officially sanctioned.

Source: news.youth.cn

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Keywords: Chinese Housing forecast streaking bet