After being released from prison, the former richest man in Shanghai, Zhou Zhengyi, has attracted much attention for his whereabouts. Recently, he appeared in Xinjiang participating in a cultural tourism investment forum as a representative of business entrepreneurs. His dyed yellow hair has sparked controversy.
On August 14th, a netizen revealed that Zhou Zhengyi has returned to the business circle and even shared images of his negotiations.
In the exposed images, Zhou Zhengyi is dressed casually with his hair dyed yellow. Beside Zhou Zhengyi, there is a very prominent display screen showing the details of the negotiations: “Warmly welcome the delegation of entrepreneurs to Xinjiang for cultural tourism investment forum.” The date on the document is August 11th, 2024.
On April 18, 2021, after being released, Zhou Zhengyi celebrated his 60th birthday at a five-star hotel on the Bund in Shanghai – the Wanda Reign Hotel. The banquet displayed slogans such as “Don’t forget your original intention, return to basics,” and invited famous celebrities, including six program hosts from Shanghai Oriental TV, which stirred up public opinion. These six hosts were subsequently suspended.
According to a report by the Chinese business and finance magazine “Manager” on May 2nd, five of the hosts who attended the banquet had their hosting licenses revoked indefinitely and were banned from appearing on local Shanghai television stations indefinitely.
Insiders from the Shanghai entertainment circle revealed that an investigation team from the Central Committee of the Communist Party of China has launched an investigation into the details of Zhou Zhengyi’s birthday banquet.
Zhou Zhengyi was the former chairman of a Shanghai real estate holding company and former chairman of Nongkai Group. In the past, Zhou Zhengyi started his career in Shanghai with “Amo Hotpot” and climbed relationships with the family of then Deputy Secretary of the Shanghai Municipal Party Committee Chen Liangyu, and Liu Jinbao, then president of the Bank of China Shanghai Branch.
Around 2000, he owned multiple listed companies covering agriculture, real estate, highways, and other areas, becoming the undisputed richest man in Shanghai.
On May 28, 2002, the Jing’an District Government of Shanghai signed a contract with Zhou Zhengyi for the “Dongbaikuai” 176,400 square meter land for the old city renovation project, with zero land transfer fees. “Dongbaikuai” is a prime location in Shanghai.
Zhou Zhengyi was able to acquire this prime land for free due to the backing of the former Shanghai Municipal Party Secretary, Chen Liangyu. This land scandal triggered strong resistance from the residents of “Dongbaikuai,” leading to legal action against the Jing’an District Government and Zhou Zhengyi.
In June 2004, Zhou Zhengyi was sentenced to three years in prison. On May 26, 2006, Zhou Zhengyi was released from prison for the first time.
On November 30, 2007, Zhou was sentenced to 16 years in prison, originally scheduled to be released in 2023. After commutation, his sentence was reduced to end on September 20, 2020.
According to Tianyancha data, Zhou Zhengyi still holds multiple companies, but these enterprises are all managed by his close confidants.
In July of this year, netizens exposed Zhou Zhengyi’s current situation, stating that he still lives luxuriously – wearing million-dollar watches, flashy earrings, and traveling in luxury cars.