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Written by Yuhui Gao Yuyang

On August 2, the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group stationed at the China Securities Regulatory Commission and the Zhejiang Provincial Commission for Discipline Inspection and Supervision issued a message:

• Dong Guoqun, member of the Party Committee and deputy general manager of Shanghai Stock ExchangeHe is suspected of serious violations of discipline and law and is currently undergoing disciplinary review by the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group of the China Securities Regulatory Commission and supervisory investigation by the Taizhou Municipal Supervisory Commission of Zhejiang Province.

Public information shows that Dong Guoqun was born in May 1965, is 59 years old this year, has a master's degree in business administration, and is a member of the Communist Party of China.

The picture shows Dong Guoqun, who is currently a member of the Party Committee and deputy general manager of the Shanghai Stock Exchange.

He has served as deputy director, director, member of the Discipline Inspection Commission, deputy chairman of the Market Development and Service Professional Committee of the Shanghai Stock Exchange, member of the Party Committee and deputy general manager of the Shanghai Stock Exchange.

On July 19, the 12th Venture Capital Forum and the National Venture Capital Association Alliance went to Shanghai Zhangjiang. Dong Guoqun, member of the Party Committee and deputy general manager of the Shanghai Stock Exchange, attended.

The Shanghai Stock Exchange was established on November 26, 1990 and opened on December 19 of the same year. It is supervised and managed by the China Securities Regulatory Commission. The Shanghai Stock Exchange is the world's third largest stock exchange and one of the most active stock exchanges in the world. As of the end of 2022, the total market value of the Shanghai Stock Exchange's stocks and IPO fundraising ranked third and first in the world respectively.

Dong Guoqun’s resume has been removed from the official website.

The Political Knowledge Jun noticed that the day before the news of Dong Guoqun's fall was announced, some media disclosed that he had been taken away from his office on July 29.

Previously, on April 17, in accordance with the unified deployment of the Party Central Committee on inspection work, the mobilization meeting for the inspection of the Shanghai Stock Exchange Party Committee by the Eighth Central Inspection Team was held.

Members of the Shanghai Stock Exchange Party Committee leadership team attended the meeting.

The central inspection team worked in the Shanghai Stock Exchange for about three months.

The Central Inspection Team worked at the Shanghai Stock Exchange for about three months.

In April last year, according to the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group stationed in the China Securities Regulatory Commission and the Zhejiang Provincial Commission for Discipline Inspection and Supervision:

Liu Ti, former deputy general manager of the Shanghai Stock Exchange, is suspected of serious violations of duty and is currently under investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group of the China Securities Regulatory Commission and the Taizhou Municipal Supervisory Commission of Zhejiang Province.

Liu Ti worked at the Shanghai Stock Exchange for a long time. Before being investigated, he had served as deputy general manager for four years.

In October last year, Liu Ti was dismissed from public office.

According to the official announcement, he regarded himself as an "expert and scholar" in the capital market, ignored political requirements and disciplinary regulations; tampered with and forged personal file information, deceived the organization with a "fake divorce"; invested in several companies that were planning to go public as a shadow shareholder, and sought improper benefits for others in the issuance and listing of companies.

In January this year, the official website of the Central Commission for Discipline Inspection and the National Supervisory Commission published an article stating that the Disciplinary Inspection and Supervision Group of the China Securities Regulatory Commission carried out in-depth special rectification of corruption in the field of securities issuance and review, and concentrated on investigating and punishing a number of typical cases such as Wang Zongcheng, Feng Henian, Zeng Changhong, and Liu Ti.

Further reading

After the Municipal Party Committee Inspection Team reported the situation, a Shanghai official was investigated and appeared in public at the end of June

According to the Shanghai Municipal Commission for Discipline Inspection and Supervision on July 22:

Hu Xin, vice president of Shanghai Urban Investment (Group) Co., Ltd., is suspected of serious violations of discipline and laws and is currently undergoing disciplinary review and supervisory investigation by the Shanghai Commission for Discipline Inspection and Supervision.

Public information shows that Hu Xin, male, was born in February 1967, is of Hui nationality, native of Chaohu, Anhui Province, holds a master's degree in engineering, started working in July 1987, and joined the Communist Party of China in November 1997.

Hu Xin, vice president of Shanghai Urban Investment (Group) Co., Ltd., is under investigation (file photo)

He has served as deputy director of Shanghai Water Planning and Design Institute, director of the Science and Technology Department, director of the Flood Control and Safety Supervision Department, deputy chief engineer of the Shanghai Water Authority and Shanghai Ocean Administration, director of the Shanghai Dike (Pump) Facilities Management Department, and deputy secretary of the Party Committee.

Before being investigated, Hu Xin had served as vice president of Shanghai Urban Investment (Group) Co., Ltd. for three years.

Shanghai Urban Construction Investment (Group) Co., Ltd. was established in 1992. Its predecessor was Shanghai Urban Construction Investment and Development Corporation. It was restructured into a limited liability company in 2014 and is wholly owned by Shanghai State-owned Assets Supervision and Administration Commission. It is a state-owned super large enterprise group specializing in urban infrastructure investment, construction, operation and management.

The Political Knowledge Editor noticed that Hu Xin made an appearance at the end of June - on June 30, Hu Xin attended the groundbreaking ceremony of a certain project.

Hu Xin was once Bai Tinghui's subordinate.

The picture shows Bai Tinghui, former Party Secretary and Director of Shanghai State-owned Assets Supervision and Administration Commission. Hu Xin was once Bai Tinghui's subordinate.

In September 2023, according to the Shanghai Municipal Commission for Discipline Inspection and Supervision, Bai Tinghui, Secretary of the Party Committee and Director of the Shanghai State-owned Assets Supervision and Administration Commission, was suspected of serious violations of discipline and laws and was subject to disciplinary review and supervision investigation by the Shanghai Municipal Commission for Discipline Inspection and Supervision.

Bai Tinghui, male, born in February 1967, Hui nationality, native of Zhecheng, Henan Province, full-time graduate student, Master of Engineering, part-time graduate student, Doctor of Engineering, professor-level senior engineer.

Bai Tinghui has served as deputy chief engineer of Shanghai Metro Corporation, general manager of Shanghai Urban Rail Transit Construction Co., Ltd., deputy general manager and chief engineer of Shanghai Metro Construction Co., Ltd., chief engineer and vice president of Shanghai Shentong Group Co., Ltd., and secretary of the Party Committee and director of Shanghai Water Authority.

In February 2019, Bai Tinghui was appointed Party Secretary and Director of the State-owned Assets Supervision and Administration Commission of the Shanghai Municipal People's Government.

When Bai Tinghui was the director of the Shanghai Water Authority, Hu Xin was the chief engineer of the bureau, and the two attended events together many times.

According to a report by Southern Metropolis Daily in September last year, an anti-corruption storm was launched in Shanghai's state-owned assets system, and many heads of state-owned enterprises in the pharmaceutical, transportation, construction, media and other industries were dismissed.

A few months before Hu Xin was investigated, the Shanghai Municipal Party Committee Inspection Team reported the inspection results to the Shanghai Urban Investment Group.

In October 2023, according to the unified deployment of the Shanghai Municipal Party Committee on inspection work, the Municipal Party Committee's First Inspection Team entered Shanghai Urban Investment Group. On February 4 this year, the Shanghai Municipal Party Committee's First Inspection Team reported the inspection results to the Party Committee of Shanghai Urban Investment Group.

According to the feedback from the inspection team, the inspection found some problems, including adhering to a strict tone, and the fulfillment of the "two responsibilities" was not strong and effective enough; there were major corruption risks in key areas and key positions, and supervision was not strong enough; the implementation of the Party's organizational line in the new era was not comprehensive and accurate enough; the continuous rectification of inspection and audit issues was not thorough and in place, and the results were not fully utilized.

The inspection team also received clues about problems involving some leading cadres, which were transferred to the Municipal Commission for Discipline Inspection and Supervision, Municipal Party Committee Organization Department and other relevant parties for handling in accordance with regulations.

On June 11, Shanghai Urban Investment Group held a communication and promotion meeting on the rectification of the municipal party committee’s inspection.

The promotion meeting mentioned that we should continue to improve the work system of strictly managing thoughts, strictly managing cadres, strictly grasping work style, and strictly grasping discipline, further straighten out the relationship between the Party Committee, the Board of Directors, and the management level, and strive to improve the vitality of corporate governance and the efficiency of research and decision-making on major issues. We should strengthen source governance and internal control system construction, continue to tighten the system cage, and plug the loopholes that cause problems from the root and source.