[February 17, 2023](Comprehensive report by reporters Xu Yiyang and Zhang Zhongyuan of the Epoch Times special department) Recently, executives of well-known Chinese real estate companies have had accidents one after another: On February 14, hundreds of billions of real estate companiesChina Fortune Land DevelopmentAccording to the announcement, Meng Jing, the company’s director and co-president, was taken away on suspicion of illegal crimes.Previously, another 100 billion real estate companySeazen HoldingsDirector and co-president Qu Dejun lost contact.
China Fortune Land DevelopmentOn the evening of February 14, it announced that it had recently received a notification from the Supervisory Committee of Chongyang County, Xianning City, Hubei Province that Meng Jing, the company’s director and co-president, had been investigated for alleged crimes. China Fortune Land Development did not disclose the specific cause of the case, but said that the relevant departments are currently investigating, and the company will pay close attention to the relevant situation and progress. This matter will not have a major impact on the company’s daily business decisions and operations.
Leju Finance, a Chinese real estate financial information platform, published an article on February 15 that Meng Jing had already reached the age of planning to retire. China Fortune Land Development employees revealed that Meng Jing had disappeared from the company for several days. About two weeks before the Chinese New Year, China Fortune Land Development suddenly released a red-headed document on the adjustment of the organizational structure, Zhao Wei, the chairman of the original production group, took over Meng Jing’s position.
On February 16, a reporter from The Epoch Times called China Fortune Land Development, but no one answered.
As a leading real estate company in Hebei, China Fortune Land Development developed rapidly in its early years, and Meng Jing’s position also rose with the tide. According to public information, Meng Jing was born in 1967 and officially joined China Fortune Land Development in 2000. He has successively served as the manager of the human resources department, general manager of the branch, vice president, and chairman of the board of supervisors. In May 2014, he served as the president of China Fortune Land Development.
Meng Jing’s other identity that has attracted public attention is the chairman of the Hebei China Fortune Football Club. According to Leju Finance and Economics, it is reported that Meng Jing’s removal may be related to the football corruption case involving former head coach Li Tie of the Chinese National Men’s Football Team.
On November 26, 2022, Li Tie was investigated for suspected serious violations of the law. Li Tie served as the executive vice president and sports director of Hebei China Fortune Football Club in July 2015 and concurrently served as the head of the Chinese coaching team.
Meng Jing’s last public appearance was at a mobilization meeting of China Fortune Land Development in 2022. In April 2022, China Fortune Land Development held the 2022 Spring Collective Commencement Conference, covering nearly 80 residential projects in 33 regions across China to resume work simultaneously.
Seazen HoldingsQu Dejun lost contact with Wang Jianlin for 17 years
With the announcement of Seazen Holdings, Qu Dejun’s name became the focus of public opinion.
On the evening of February 10, Seazen Holdings announced that the company was temporarily unable to get in touch with Qu Dejun, the company’s director and co-president. So far, the company has not been able to understand the specific reasons. This matter will not have an impact on the company’s business activities, and the company’s current work is proceeding normally.
According to public reports, Qu Dejun’s last public appearance was on January 16, 2023, when he attended and took a group photo on behalf of the company at the project signing ceremony for the cooperation between Seazen Holdings and Xiamen Rail Construction Development Group Co., Ltd.
Qu Dejun joined Seazen Holdings in July 2019. He is well-known in the field of commercial real estate for having worked in Wanda Group for nearly 17 years. During the 17 years from 2002 to 2019, Qu Dejun worked in Dalian Wanda Group. He was in charge of Wanda’s business management sector all the year round. He later served as the president of Wanda Financial Group, the president of Wanda Network Technology Group, etc., and was later transferred to the chairman of Wanda Baby King Group. Baby King is a children’s industry company under Wanda Culture Group. However, within half a year, Qu Dejun chose to leave.
An executive from Zhuhai Wanda Commercial Management Group Co. told Chinese media Caijing that Qu Dejun was the right-hand man of Wanda founder and chairman Wang Jianlin. In 2018, after Wanda’s e-commerce business, Feifan.com, failed, Qu Dejun took the blame and left. In July 2019, Qu Dejun joined Seazen Holdings as Vice Chairman.
Regarding the disappearance of Qu Dejun, a reporter from The Epoch Times contacted Seazen Holdings on February 16, but the other party said they did not know about it.
An insider close to Seazen Holdings revealed to Caijing that the company has a mature operating system. Although Qu Dejun has temporarily lost contact, the current company structure has not changed, and no arrangements have been made to replace Qu Dejun.
In addition, an insider close to Wanda recently told Observer.com that he did not know the specific circumstances of Qu Dejun’s disappearance. The news received so far shows that neither Wanda nor Xincheng have received any inquiries from relevant departments. So it is most likely due to personal reasons.
However, Caixin.com reported on February 10 that an insider close to Wanda Group said that Qu Dejun lost contact because he was cooperating with the investigation, and it involved the period when he worked for Wanda Group and was in charge of Wanda’s financial technology business.
A commentary published on February 14 by China’s retail portal LianShang.com said it was strange that an executive of a listed company suddenly lost contact for no apparent reason. Under normal circumstances, the family members of the missing person should speak out first, and after a certain time limit, they will call the police, and the police will then give an explanation. However, so far, neither Qu Dejun’s family members nor the police have made a statement, and Seazen Holdings has notified the public that its employees have lost contact in the form of an announcement. Such cases are very rare.
The article believes that Seazen Holdings’ move is obviously to cut off from the “Qu Dejun’s loss of contact incident”, and its notification specifically emphasizes that “it will not affect the company’s business activities”. .
Four real estate executives were investigated on the same day
According to incomplete statistics from Caijing magazine, since 2022, about 9 executives of real estate companies in China have been taken away for investigation.Four of them were also investigated on August 23 last year. They are Tang Yong, chairman of the board of directors of China Resources Land, and C&D Corporation.real estateChairman Zhuang Yuekai, former chairman of Xiamen C&D Urban Service Development Shi Zhen, and deputy general manager of Shenzhen Talent Housing Group Liu Hui. It is rare for four big names in China’s real estate industry to fall in one day.
In January 2023, the Xiamen Procuratorate of the Communist Party of China notified that the former deputy general manager of Xiamen C&D Group Co., Ltd., C&Dreal estateZhuang Yuekai, the former chairman of the Group Co., Ltd., and Shi Zhen, the former chairman of Xiamen C&D Urban Service Development Co., Ltd., were arrested on suspicion of bribery and corruption.
On the evening of August 23, 2022, the website of the Xiamen Municipal Commission for Discipline Inspection reported that Zhuang Yuekai and Shi Zhen were reviewed and investigated by the Xiamen Municipal Commission for Discipline Inspection and Supervision.
Xiamen C&D Group was founded in 1980, and its main business layout covers supply chain operations, urban construction and operations, tourism exhibitions, medical care, and investment in emerging industries. The group is the largest Chinese state-owned enterprise in Xiamen City.
Also on August 23, the Sichuan Provincial Commission for Discipline Inspection and the Shenzhen Municipal Commission for Discipline Inspection and Supervision also issued relevant announcements one after another, involving the investigation of senior executives from real estate companies China Resources Land and Shenzhen Talent Housing Group.
The CPC Sichuan Provincial Commission for Discipline Inspection reported at the time that Tang Yong, the former chairman and CEO of China Resources Land Co., Ltd., was under investigation.
Tang Yong joined China Resources in 1993, and successively worked in China Resources Corporation Hainan Sanya Oriental Hotel, Longdi Enterprise Co., Ltd., China Resources Property, China Resources Land, China Resources Power and China Resources Group business units. Before being investigated, Tang Yong was the professional director of China Resources Modern Service Co., Ltd.
The CPC Shenzhen Municipal Commission for Disciplinary Inspection and the Shenzhen Municipal Supervisory Committee also issued announcements on the same day that Liu Hui, deputy general manager of Shenzhen Talent Housing Group Co., Ltd., was under investigation. The group is a wholly state-owned company in Shenzhen that is responsible for public housing investment, construction, operation and management.
Responsible editor: Lian Shuhua#