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.
