Chen Rugui, member of the party group and deputy director of the Standing Committee of the Guangdong Provincial People’s Congress, was examined and investigated. (Image source: Internet)
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[See China June 5, 2022 News](See Chinese reporter Miao Wei’s comprehensive report) In April last year, she resigned as Shenzhen mayor and retired early to the “second-tier”Chen Ruguiwas checked.Some Hong Kong media revealed that Chen RuguifallThere are three main reasons:Deep room management、EvergrandeIllegal use of leverage, ShenzhenbankSystem illegal lending.
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According to official media reports, the Central Commission for Discipline Inspection announced at 8 a.m. on June 1 that Chen Rugui, a member of the party group and deputy director of the Standing Committee of the Guangdong Provincial People’s Congress, was investigated for “serious violations of discipline and law”. As for what happened to Chen Rugui’s sudden investigation, the official has not disclosed.
“Hong Kong 01” reported on June 3 that Chen Rugui sacked the three major factors involved in Shenzhen housing management, Evergrande, and banks. Chen Rugui is well versed in the laws of real estate, indulges corruption, buys people’s hearts, and has his own small circle and sphere of influence. Whether it is Evergrande or Shenzhen Real Estate Management, it shows the shortcomings of Shenzhen’s banking system. It can be done by defrauding bank loans, and Shenzhen also There are many officials who own multiple properties and even have strong financing and real estate speculative capabilities, and vested interest groups should not be underestimated.
First, the Shenzhen banking system lends illegally. People in the financial system have learned that in the last two years of Chen Rugui’s tenure as Shenzhen mayor, the bank loans that he took out of illegally taking advantage of high housing prices alone amounted to at least 300 billion yuan.
According to the report, under the government accountability system, Chen Rugui bears the main responsibility for the indulgence of real estate speculators; Shenfangli has turned real estate into a purely highly leveraged financial product, and has stepped on the red line of the regulators. , the regulators have a characterization of this, that is, Internet big data and usury, fundraising and lending plus leverage.
It is worth noting that the model of Shenfangli provides a secret channel for foreign capital to transfer funds.
Second, Evergrande used a lot of funds to expand the cultural tourism, health sector, and automotive sectors, while Chen Rugui was deeply involved in Evergrande’s urban renewal project in Shenzhen behind the scenes. In 2017, the headquarters of Evergrande Group, which Chen Rugui has been supervising since he was the director of the Guangzhou Municipal Construction Committee in 2003, moved from Guangzhou to Shenzhen. Evergrande’s debt was only 500 billion yuan, and the cash on the account was 300 billion yuan, but now the debt on the balance sheet is as high as 2 trillions. In 2016, Evergrande had only 20 projects in Shenzhen. By 2021, there will be 61 old renovation projects in Shenzhen alone. The 40 newly approved old renovation projects worth trillions of yuan by Evergrande will require the mayor at the time. Chen Rugui nodded.
According to the report, as the mayor of Evergrande’s headquarters, Chen Rugui’s regulatory responsibility for this is because the old reform projects for Evergrande are all used to expand leverage from financial institutions.
Third, in the Shenzhen banking system, after Tian Huiyu and Wang Ye, former presidents of China Construction Bank Shenzhen Branch, and Wu Deli, former president of China Development Bank Guangdong Branch, were sacked, Chen Rugui, who was the main person responsible for the expansion of Shenzhen’s financial leverage bubble, was unavoidable. be held accountable.
According to local media reports in Guangdong, Chen Rugui’s investigation also occurred during his political career in Guangzhou. He has worked in Guangzhou for more than 27 years from entering the Guangzhou Institute of Architectural Sciences to leaving Guangzhou to take up a post in Zhongshan.
During his tenure in Guangzhou, he also dealt with the unfinished building in Guangzhou. Since 2002, the Guangzhou Municipal Government has put forward the goal of “eliminating unfinished buildings”. Chen Rugui has taken over this work for more than ten years as the director of the Guangzhou Municipal Construction Committee and the executive vice mayor in charge of urban construction. During this period, Guangzhou’s urban construction sector has also become a hardest hit area for corruption. Cao Jianliao, the former deputy mayor of Guangzhou (inspected in December 2013), and Su Zequn, former member of the Standing Committee of the Guangzhou Municipal Party Committee and former executive deputy mayor of the municipal government (in August 2020), were investigated successively.
The official resume shows that Chen Rugui is 59 years old (born in September 1962), a native of Lianjiang, Guangdong. Since March 2007, he has served as the secretary-general of the Guangzhou Municipal Government, secretary of the Party Group of the General Office of the Municipal Government; member of the Standing Committee and Secretary-General of the Guangzhou Municipal Committee , Deputy Mayor, Deputy Secretary of the Municipal Party Committee, Secretary of the Political and Legal Committee; Secretary of the Zhongshan Municipal Party Committee, Director of the Standing Committee of the Municipal People’s Congress, etc. Since July 2017, Chen Rugui has served as deputy secretary of the Shenzhen Municipal Party Committee, deputy mayor of the municipal government, secretary of the party group, mayor, etc. In April 2021, he will serve as a member of the party group and deputy director of the Standing Committee of the Guangdong Provincial People’s Congress.
Chen Rugui’s sack happened suddenly, and his last public appearance was 4 days ago. On May 27, Chen Rugui spoke at the enlarged meeting of the Party Group of the Standing Committee of the Guangdong Provincial People’s Congress and the study meeting of the theoretical study center group.
Source: Watch China
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