During a recent live streaming session, Li Yapeng appeared in a simple plain shirt, his hair neatly combed, although the wrinkles around his eyes revealed the toll of years gone by. Facing the camera calmly, he said, “The money has been fully returned.” There were no dramatic celebrations. He simply raised a cup of tea, took a sip and continued reading the constant stream of comments flooding the screen. Behind him were freshly packaged boxes of tea, with loose tea leaves scattered across his desk – a stark reflection of his two-year debt repayment journey. Viewers commented, “This is the most realistic portrait of his life in the last two years,” AND “It wasn’t easy.”
In 2024 alone, Li hosted 139 live streaming sessions, generating over RMB 300 million in revenue. In the first five months of 2025, it reportedly sold nearly RMB 100 million worth of goods, with tea and teaware accounting for about 70% of total sales. By the end of 2025, his revenue increased significantly, finally allowing him to do so “reach the shore” after years of financial turbulence.
His financial problems date back to 2012, when Li gave up acting and devoted himself to building what he described as a “spiritual space”. It invested RMB3.5 billion to launch an art city project at the foot of Jade Dragon Snow Mountain in Lijiang. The plan included art museums, sculpture parks and homestays. His partner, Taihe Youlian, invested RMB60 million under an agreement that promises a fixed return of RMB40 million in profit after three years.
However, Li has been widely described as overly committed to preserving the “purity of art”. When real estate developers offered him to build skyscrapers for faster capital recovery, he refused. Suggestions to introduce popular food brands to attract visitors were also rejected, as he believed would be possible “polluting the cultural atmosphere”. He even imagined turning commercial spaces into exhibition areas rather than for-profit establishments.
By 2015, when the project reached its deadline, the vacancy rate had risen to 70% and even daily operating costs became difficult to sustain. The promised return of RMB 40 million has become impossible to realize. To save the project, Li and his brother signed a letter of commitment, personally guaranteeing the debt. What he didn’t foresee was that this decision would saddle him with enormous liabilities for the next seven years, leading to lawsuits filed by investors.
The legal battle took place through six trials, from first instance to the new trial. By 2022, when it finally lost the final appeal, total debt – including principal and interest – had risen to RMB50 million. During this period, Li was placed on the list of discredited persons subject to scrutiny, due to high-level consumption restrictions. His 500-square-meter courtyard house in Shunyi was sealed and auctioned. Even the mansion where he once lived with singer Faye Wong has not been preserved. Eventually, he sold two more properties in Chaoyang and Haidian to raise nearly RMB 20 million as initial redemption capital.
Li’s lifestyle has changed dramatically. He moved from a 500-square-meter villa to a 90-square-meter rental apartment, saving about RMB 2.6 million in annual rent. Luxury fashion brands were replaced with affordable labels and luxury vehicles gave way to a standard family car. His ex-wife, Haiha Jinxi, was seen wearing RMB 15 cloth shoes while cleaning tile cracks in their rented house. His eldest daughter, Li Yan, also helped promote the products through short videos, contributing to a single live streaming session that generated over RMB 20 million in sales.
Notably, even during the most difficult moments, Li maintained a calm and measured tone during livestream sales. Instead of aggressively urging viewers to purchase the products, he patiently introduced the craftsmanship of tea ware and the origins of tea leaves. Many wondered why he didn’t file for corporate bankruptcy, but Li answered clearly: “This is a personal responsibility that I have undertaken. I cannot let others take it on for me.”
Public support also played a role in her comeback, especially after the renewed attention around the Smile Angel Foundation. With public encouragement and consistent effort, Li eventually earned enough to fully repay the debt.
Now debt-free, Li continues to run his live streaming studio. He packages the products himself and plans to donate a portion of the profits from the tea items to rural cultural projects.
After paying off his debt, Li welcomed a peaceful Lunar New Year. On February 14, he shared a video on social media revealing that he returned to his hometown to celebrate with his mother. Posting a photo of his 83-year-old mother walking him home, he wrote, “I had dinner and a few drinks with the old neighbors during the Lunar New Year. I had to ask my 83-year-old mother to drive me home. There is a treasure at home that makes me feel like I belong here.”
Born in 1971, Li Yapeng rose to fame as one of the top stars in the Chinese entertainment industry, known for classic dramas such as The legend of the Condor heroes AND Laughing in the wind. Over the years, he has dated several high-profile figures, including actress-model Ke Lan, Qu Ying, actress Zhou Xun and Faye Wong. He married Faye Wong in 2005 before divorcing in 2013 and they have a daughter, Li Yan. In 2022, he married actress Haiha Jinxi and welcomed another daughter, Li Xia. The couple recently divorced.
In recent years, Li Yapeng has remained in the spotlight due to business failures and mounting debts, at one point owing nearly $6 million. With his latest announcement confirming full reimbursement, the actor’s long and arduous financial chapter appears to have finally come to an end.
Sources: Ngoisao
