On the company's failure

• Source: Global Times
• [03:24 March 17 2010]
• Comments

"We cannot afford such a high price. We have to admit our own incompetence."

Ren Zhiqiang, chairman of the board of Beijing Huayuan Real Estate Co Ltd,

Expressing his disappointment with the company's failure in a land auction in northeast Beijing's Wangjing area, quoted by the Beijing Morning News Tuesday. Ren previously was quoted as saying "Go back to your rural county if you can't afford Beijing.