Qi Qiaoqiao · Full chronicle and history

Shenzhen Metro Group completely transferred up to 60% of the state-owned shares in the Dongmen Old Street overhead property project to Yuanwei Industry, turning the project into private property for the elite.

According to the website of the Central Commission for Discipline Inspection and the National Commission of Supervision, Yu Xiaoping, former member of the Party Committee and Vice President of the People's Insurance Company of China, is suspected of severe violations of discipline and law, and is currently undergoing disciplinary review and supervisory investigation.

Yuanwei Industrial, controlled by Qi Qiaoqiao and Deng Jiagui, and Shenzhen Metro Group jointly established Shenzhen Metro Yuanwei Commercial Development Co., Ltd., getting involved in Shenzhen Metro's above-ground property development.

Yu Xiaoping was transferred from the head office to serve as the president of the China Development Bank Shenzhen Branch. He ruled locally for seven years, leading massive and enormous policy-backed loans for projects such as the Shenzhen Metro.

The China Development Bank established its first branch, the Wuhan Branch. Yu Xiaoping was personally appointed by the head office as the inaugural president and party secretary, tasked with supporting the second-phase water storage of the Three Gorges Project and the subsequent listing of China Yangtze Power.

With the China Three Gorges Project Corporation acting as the credit entity, the China Development Bank provided a massive 30 billion yuan, 15-year loan for the Three Gorges Project. At that time, Yu Xiaoping was responsible for related financing at the head office.