[New Tang Dynasty Beijing time August 26, 2021]After Zhou Jiangyong, secretary of the Hangzhou Municipal Party Committee, fell from the horse, his family’s “business empire” was immediately exposed. Official media revealed that Zhou Jiangyong’s younger brother, relatives and friends built a large business empire in Zhejiang. The expansion path highly overlaps with Zhou’s career experience, and they have business contacts with Alibaba and Tencent.
Zhou Jiangyong went off the horse on August 21. On the 25th, China Economic Weekly, run by the Chinese Communist Party’s official media, People’s Daily, published a long article, revealing the business map of Zhou Jiangyong’s wife, younger brother and other relatives and the economic issues involved.
Zhou Jiangyong successively served as member of the Standing Committee of the Ningbo Municipal Party Committee, Secretary of the Zhoushan Municipal Party Committee, Secretary of the Wenzhou Municipal Party Committee, and Secretary of the Hangzhou Municipal Party Committee. According to the report, Zhou Jiangyong’s family business map highly overlaps with his official career footprint.
Zhou Jiangyong’s wife took the post of deputy secretary of the party committee and chairman of the board of supervisors of a rural commercial bank in Ningbo, earning tens of millions of yuan each year. Insiders of the bank revealed that they have been jointly reporting Zhou Jiangyong’s wife, “the report letter is like a snowflake.”
In mid-October last year, the fourth inspection team of the central government stationed in Zhejiang, and bank employees reported again in real names. The above-mentioned insider said, “Zhou knows about this matter.”
Zhou Jianyong’s business map follows his brother’s official career
In addition to Zhou Jiangyong’s wife, Zhou’s younger brother Zhou Jianyong also had a problem.
Zhou Jianyong is an associate professor at the School of Management of the University of Shanghai for Science and Technology. He is also a shareholder of four companies including Ningbo Yongrun, covering many fields.
In 2016, Zhou Jianyong founded Ningbo Youcheng United Information Technology Development Co., Ltd., focusing on the three major business areas of “Metro Internet, Industry Information, and Metro New Economy”.
The company has become strategic cooperation and technology partners with Alibaba, Tencent, and UnionPay. According to the “Tianyancha” APP, Shanghai Yunxin Venture Capital Co., Ltd., wholly-owned by Ant Technology Group, is one of the shareholders of Ucheng United, with an investment of 1,666,700 yuan, accounting for 14.28% of the shares.
In recent years, Youcheng United has successively landed in Ningbo, Wenzhou and Xuzhou. One year after Zhou Jiangyong was transferred to the secretary of the Hangzhou Municipal Party Committee, Youcheng United invested in the establishment of Hangzhou-Tie Youcheng (Zhejiang) Technology Co., Ltd. in November 2019.
According to the Tianyan Check APP, among them, Youcheng United holds 55% of the shares, Hangzhou Metro Group holds 31.5% of the shares, and Shanghai Yunxin of Ant Holdings invested 1.35 million yuan, accounting for 13.5% of the shares.
The report quoted sources saying that Zhou Jianyong has been controlled in Shandong and Zhou Jiangyong’s sister has also been controlled.
Zhou Wenyong and Zhou Jianyong are long-term partnerships. According to the “Tianyancha” APP, Zhou Wenyong has participated in and controlled 13 companies, covering many fields such as electromechanical, energy, petrochemical, automobile sales, investment, guarantee, management consulting, etc., mainly in Ningbo Yinzhou District and Haishu District.
Ningbo Yongrun Industry and Trade Technology Co., Ltd., which is controlled by Zhou Wenyong, specializes in the production of lubricating base oils and low condensation white oils. Zhou Wenyong holds 51% of the shares, and Zhou Jianyong is the second largest shareholder with 40% of the shares.
In January of this year, under the recommendation of Ningbo Yinzhou District Science and Technology Bureau, Ningbo Yongrun won a venture capital fund of 80 million yuan from Softbank China Venture Capital Co., Ltd.
In addition, Ningbo Yongshi Electric Co., Ltd. has been included in the list of cultivating small and medium-sized enterprises in Ningbo City with “specialized, sophisticated and new”, and has received government technical reform subsidies for many times.
The report quoted a distant relative of Zhou Jiangyong as saying that Zhou Jiangyong’s family brothers and many friends outside had received projects in his jurisdiction, and “not avoiding suspicion at all.”
Before Zhou Jiangyong fell, Zhou Wenyong had been arrested. On July 15 this year, the official website of the Haishu District People’s Congress of Ningbo City announced that Zhou Wenyong, a deputy to the People’s Congress, was charged with criminal coercive measures on the charge of smuggling waste. But this information has not been found on the official website of the Haishu District People’s Congress.
Zhou Jiangyong used to support Jack Ma and Alibaba when he was in office. After he fell from the horse, there was news from the media that before the IPO of Ant Group in November 2020, Zhou Jiangyong’s family spent 500 million yuan to buy shares first, and then the listing was suspended and was refunded 520 million yuan.
The Ant Group immediately denied it in a statement, but the “China Economic Weekly” commented that “the truth will eventually come to light.”
(Reporter Luo Tingting Comprehensive Report / Chief Editor: Wen Hui)
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