For large internet company like BABA, BAIDU, the best way to enter this market is through acquisition or buying stakes in the existing dominating companies. To start from scratch seems to be a slow path.
Does EJ have alliances?
Being the first chinese real estate company listed on NYSE is a big marketing tools for XIN in China. The deal with TPG demonstrates that they can get capital from US capital market.
More interesting is how he amassed 10 billions after those failures? Many investors lost money by his bankruptcies.