On July 19, 2026, the former deputy party secretary and president of the China Development Bank (CDB), Ouyang Weimin, was officially announced to have fallen from grace. Ouyang Weimin previously served as the deputy governor of Guangdong and was the deputy of former Guangdong Governor Ma Xingrui (who has also been ousted from power). Recent turmoil in the Guangdong political arena has speculation pointing to the roots of Ma Xingrui’s case in Guangdong.
The Communist Party’s Central Commission for Discipline Inspection and the National Supervisory Commission reported today (July 19) that Ouyang Weimin, the former president of CDB, has been dismissed.
Public records show that Ouyang Weimin, born in January 1963 in Hengyang, Hunan Province, had worked for many years at the Central Bank before serving as the deputy general manager of CITIC. In 2011, Ouyang Weimin left the Central Bank system and became the deputy mayor of Guangzhou. He then held positions such as member of the Guangzhou Municipal Party Committee, secretary of Zengcheng District Committee, executive deputy mayor of Guangzhou, deputy secretary of the Guangzhou Municipal Party Committee, and in 2018, he became the deputy governor of Guangdong Province. Ouyang Weimin returned to the financial system in 2019 as the president of CDB and deputy party secretary, stepping down in February 2023.
It is currently unknown which position led to Ouyang Weimin’s downfall. Of note, his close working relationship with former Politburo member Ma Xingrui in Guangdong has attracted attention.
In November 2013, Ma Xingrui was transferred from the Ministry of Industry and Information Technology to Guangdong. He held various positions in Guangdong, including Deputy Secretary of the Provincial Party Committee and Secretary of Political and Legal Affairs from 2013 to 2015, Deputy Secretary of the Provincial Party Committee and Secretary of Shenzhen Municipal Party Committee from 2015 to 2016, Deputy Secretary of the Provincial Party Committee, Deputy Governor, and Acting Governor from 2016 to 2017, and Deputy Secretary of the Provincial Party Committee and Governor from 2017 to 2021. In 2021, Ma Xingrui was appointed Secretary of the Xinjiang Communist Party, entered the Central Politburo in October 2022, and was dismissed from his position as Xinjiang Party Secretary in July 2025 before falling from grace as the Deputy Head of the Central Rural Work Leading Group on April 3 of this year.
During Ma Xingrui’s tenure as Deputy Secretary of the Guangdong Provincial Party Committee and Governor, Ouyang Weimin served as Deputy Secretary of the Guangzhou Municipal Party Committee, Deputy Governor, President of the China Development Bank, and Deputy Party Secretary.
Rumors surrounding Ma Xingrui’s close ties to Communist Party leader Xi Jinping and his case have continued to reverberate in the Guangdong political scene. Following Ma Xingrui’s dismissal, four of his former subordinates in Shenzhen have been successively investigated.
On July 17, 2026, the Guangdong Provincial Commission for Discipline Inspection and Supervision publicly announced that Wang Qiang, a member of the Shenzhen Municipal Party Committee and head of the United Front Work Department, voluntarily surrendered for investigation. Hong Kong’s Ming Pao reported that Wang Qiang was implicated in Ma Xingrui’s case during his role as Secretary of the Shenzhen Municipal Party Committee.
Prior to Wang Qiang, his predecessor as head of the United Front Work Department of the Shenzhen Municipal Party Committee, Du Ling, was removed from his position as Deputy Chairman of the Guangdong Federation of Trade Unions on July 2, 2026. Mainland media outlet Caixin previously reported Du Ling’s involvement in Ma Xingrui’s case.
Guo Yonghang, the Deputy Chairman of the Guangdong Provincial Political Consultative Conference, was ousted on March 27, 2026. He had previously served as a member of the Standing Committee of the Shenzhen Municipal Party Committee and Secretary-General during Ma Xingrui’s leadership in Shenzhen.
Dai Beifang, former Chairman of the Shenzhen Municipal Political Consultative Conference, was investigated on December 15, 2025. Dai Beifang, a former colleague of Ma Xingrui, held various positions within the Shenzhen Municipal Party Committee, including member of the Standing Committee, Secretary-General, Director of the Office of the Party Committee, Minister of the Organization Department, Deputy Secretary of the Party Committee, and Chairman of the Political Consultative Conference, during Ma Xingrui’s tenure in Shenzhen.
After Ma Xingrui stepped down as Secretary of the Xinjiang Party Committee in July 2025, commentator Du Zheng quoted by Taiwanese media “Up Media” on July 27, 2025, revealed that the crux of Ma Xingrui’s problems lay in Guangdong. Locally, there have been rumors that following the detention of Evergrande’s boss Xu Jiayin in September 2023, a long list of high-ranking officials, including Ma Xingrui, were revealed to the authorities.
On November 4, 2015, Ma Xingrui, who was Deputy Secretary of the Guangdong Provincial Party Committee and Secretary of the Shenzhen Municipal Party Committee at the time, met with Xu Jiayin, Chairman of the Evergrande Board of Directors. It is said that with Ma Xingrui’s support, Evergrande quietly relocated its headquarters from Guangzhou to Shenzhen within the following year. Xu Jiayin provided significant benefits to his “benefactor” Ma Xingrui.
The Communist Party’s official notice recently disclosed that Ma Xingrui was involved in “permitting and enabling his relatives to abuse their influence for significant personal gain, engaging in familial corruption.” Subsequently, the media in mainland China revealed Ma Xingrui’s younger brother, Ma Xingquan, had ties to political and business dealings in Shenzhen.