Jiang Shujie, who rose from a construction worker to the top post at one of Shanghai’s most powerful state-owned investment firms, is under investigation for suspected corruption — marking a dramatic end to a nearly four-decade career built alongside the city’s transformation.
On Aug. 18, 2025, Shanghai's top anti-corruption agency announced that Jiang, 61, Communist Party secretary and chairman of Shanghai Municipal Investment (Group) Corp., was suspected of “serious violations of discipline and law.” The firm, also known as Shanghai Chengtou, functions as the city’s sovereign wealth fund and primary vehicle for infrastructure investment.
To many in Shanghai’s building industry, Jiang projected the air of a scholar —a quintessential technocrat who could speak eloquently about technical specifications and quality standards. Yet, they noted, behind the academic veneer was a leader who favored cronyism, meddled in engineering projects and cultivated a domineering style that created internal friction.
Jiang’s downfall rattled Shanghai’s political and business elite. His trajectory reflects the promise and perils of China’s state-led infrastructure development model, where technical expertise often intersects with bureaucratic intrigue and political risk.
From building sites to boardrooms
Born in 1964 in Suzhou, Jiang arrived in Shanghai in 1986, taking a job at a local construction firm just as the city embarked on a housing boom driven by reform and the opening-up. Colleagues say he stood out for his diligence and technical acumen, publishing papers on new building techniques and experimenting with cutting-edge methods on site.
He rose swiftly. By 1996, Jiang was made deputy manager during a company restructuring, eventually becoming general manager. He led landmark projects and expanded operations into neighboring Zhejiang province.
His big break came in 2008 when as an assistant general manager at state-owned Shanghai Construction Group, he was appointed commander of Shanghai's reconstruction efforts in Dujiangyan following the Sichuan earthquake. His success led to a promotion to deputy director at the Shanghai Municipal Construction and Transportation Commission.
There, he oversaw market supervision but was soon tarnished by a series of high-profile construction accidents, including a building collapse in 2009 and a fatal apartment fire in 2010.
The incidents, which were blamed on lax supervision and irregularities in bidding and subcontracting processes, derailed Jiang’s career. As a key regulatory official, he was demoted and sidelined.
A political comeback began in 2013 with a leadership role at the Zhangjiang High-Tech Industrial Zone, followed by chairmanship of state-owned logistics firm Shanghai Jiaoyun Group. In 2017, Jiang took over at Shanghai Chengtou amid major reforms.
Founded in 1992, Shanghai Chengtou is wholly owned by the city government and plays a central role in the city’s development, investing in projects from bridges to water systems. When Jiang became chairman, he implemented a three-part reform aimed at tightening internal management, cutting debt and integrating public service functions.
Under his leadership, the company’s total assets grew from 515.2 billion yuan ($72 billion) in 2016 to 833 billion yuan by the end of 2024. Revenue nearly doubled to 41 billion yuan.
The downfall
But behind the financial gains, trouble was brewing. In 2024, Hu Xin, a vice president at Chengtou, was investigated. He confessed in court in 2025 of accepting more than 67 million yuan in bribes. Insiders say Hu’s case was closely linked to Jiang, though the two had clashed over power.
That investigation triggered a broader shake-up at Shanghai Chengtou, toppling more senior executives. Jiang remained untouched until a serious accident in December 2024. A crane boom collapsed during an expressway project and struck a metro train line. Though no one was hurt, the incident prompted a probe by the Ministry of Emergency Management.
Investigators found extensive failures among contractors and suppliers tied to Shanghai Chengtou and allegedly close to Jiang. Sources said Jiang had exerted influence over personnel appointments at the project firm.
Further scrutiny followed. In March 2025, Lu Zhifeng, a manager at another Shanghai Chengtou unit, was placed under investigation. Authorities later issued a formal notice citing “illegal intervention in construction projects” and lax enforcement of internal rules.
Contact reporter Han Wei (weihan@caixin.com)
