On June 14, 2004, Taishan Oil transferred the 75% stake it held in Taishan Real Estate to Capital Investment (Qingdao) for 123 million yuan, and the remaining 25% stake was transferred to NC International free of charge.
A group of China's top entrepreneurs established the Alxa SEE Ecological Association in Alxa. During the founding conference, they engaged in fierce discussions over organizational bylaws, election methods, and other issues, ultimately tearing up the pre-arranged list and establishing a rule-based operating model.
On June 1, 2004, Jiang Yanyong and his wife Hua Zhongwei were taken away by the authorities while on their way to the hospital; Hua Zhongwei was released two weeks later, Jiang Yanyong was released on July 19, and the authorities denied the incident.
In June 2004, the feasibility report for the Qingdao mega refinery project was approved by the State Council. The project was the first refinery in China approved with a single-phase construction capacity of 10 million tons; Li Wei used this to develop related real estate business in Qingdao.