No last laugh for Wahaha founder as mall struggles

WAOW Plaza in Hangzhou a rare misfire for China's 2nd-richest man

The first luxury shopping mall from the nation's second-richest man, Zong Qinghou, has been finding it tough to turn a profit in the two years since its grand opening.

China's version of London's Harrods or Paris' Galeries Lafayette, WAOW Plaza in Hangzhou, Zhejiang province, is said to be ending contracts with developers after suffering from extended losses, according to China Real Estate website.