On August 12, 2026, Jin Wenhai, former CEO of Ouyeyunshang under China Baowu, and former vice president of Baosteel Stainless Steel Co., Ltd., He Ruying, were both investigated on the same day. Over the past year, several high-ranking executives of China’s largest state-owned steel company, Baowu Group, have been taken down.
The Central Commission for Discipline Inspection of the Chinese Communist Party and the National Supervisory Commission reported on August 12, 2026, that Jin Wenhai, former deputy party secretary, director, and CEO of Ouyeyunshang Co., Ltd., was under investigation.
According to publicly available information, Jin Wenhai, born in September 1965, is a senior economist with a bachelor’s degree in Materials Science and Engineering from Shanghai Jiao Tong University, a master’s degree in Mechanical Engineering from China Textile University, and an MBA from Fudan University. He held various positions in different companies before joining Baowu.
Baowu Group is a key steel industry internet platform under China Baowu, established in 2015 and headquartered in Baoshan District, Shanghai.
On the same day Jin Wenhai was investigated, August 12, 2026, He Ruying, former vice president of Baosteel Stainless Steel Co., Ltd., and former chairman of Ningbo Baoxin Stainless Steel Co., Ltd., was also reported to be under investigation.
Baosteel Stainless Steel Co., Ltd., abbreviated as Baosteel Stainless, was established in March 2012 and is a state-owned enterprise wholly owned by China Baowu Steel Group Co., Ltd., headquartered in Baoshan District, Shanghai.
Ningbo Baoxin Stainless Steel Co., Ltd. was established on May 21, 1995, as a Sino-foreign joint venture formed by Baoshan Iron and Steel Co., Ltd., Zhejiang Ningbo Iron and Steel Investment (Ningbo) Co., Ltd., and Japanese companies including Nisshin Steel Co., Ltd., Mitsui & Co., Ltd., and Hanko Kogyo Co., Ltd., with its headquarters in Ningbo Economic and Technological Development Zone, Zhejiang Province.
Baowu Steel Group Co., Ltd., commonly known as Baowu Group, is a significant centrally state-owned enterprise directly managed by the State-owned Assets Supervision and Administration Commission of the State Council. Formed in 2016 through the merger of Baosteel Group and Wuhan Iron and Steel Group, it is headquartered in Shanghai and currently stands as China’s and the world’s largest steel company.
In the past year, several executives of Baowu Group have been investigated. On May 6, 2026, Qin Jian, former vice president of Shanghai Baokang Electronic Control Engineering Co., Ltd., Shen Shichun, former vice president of the Jiangsu Regional Business Department, and Sun Zheng, former customer manager of the Jiangsu Regional Business Department, were all under investigation.
On March 18, 2026, Liu Pengfei, former member of the party committee and vice president of Taiyuan Iron and Steel Group Co., Ltd., a subsidiary of Baowu Group, was also investigated.
Previous casualties within Baowu Group include Wang Weiming, former deputy general manager of Baosteel Steel Structure Co., Ltd.’s operations center, investigated on November 12, 2025.
Before Wang, Zhao Kun, former chairman of Guangdong Shaoguan Iron and Steel Co., Ltd., a subsidiary of Baosteel Group, was investigated on October 24, 2025.
On September 23, 2025, Lin An, former director of China Baowu Group Co., Ltd., was under investigation.
Hu Hong, former vice president of Baoshan Iron and Steel Co., Ltd., resigned before being investigated half a month later on February 11, 2025.