Recently, a fraudulent organization posing as the “State-owned Assets Supervision and Administration Commission Economic Development Center of the State Council” was exposed and is now under investigation by the market regulatory authorities. What’s shocking is that earlier this year, the company under this organization signed a major project agreement worth 15.8 billion yuan with the government of Suizhou City in Hubei Province to build a 2500-mu aerospace technology industrial park. This revelation has sparked wide public attention and scrutiny.
According to the Suizhou Daily, the massive investment project named “Zhongjia Aerospace Technology Research and Production Base” is sponsored by Xi’an Aviation Future Energy Industry Chain Management Co., Ltd.
The project went from initial contact to formal contract signing in just 28 days, setting a remarkable “Suizhou speed” for major project implementation in the region, initially hailed by the local government as a significant achievement in attracting investment.
As per official planning, once the project is fully operational, it is expected to generate annual revenue surpassing 30 billion yuan, potentially leading to the formation of a billion-dollar aerospace industry cluster, serving as a crucial engine for the local economic development.
Even after the exposure of the investment party’s false identity as a “fake state-owned enterprise,” the project is still proceeding with external engineering tender activities.
However, a thorough investigation into the equity structure revealed serious doubts about the state-owned capital background of the investment entity in the multibillion-dollar project, Xi’an Aviation Future Energy Industry Chain Management Co. The entity claiming to be the “State-owned Assets Supervision and Administration Commission Economic Development Center of the State Council” has been clearly marked by the Market Supervision Administration of Shangrao City in Jiangxi Province as “suspicious of counterfeiting, under investigation.”
Officials from the Shangrao City Market Supervision Administration disclosed to the media that, after sending an official letter to the State-owned Assets Supervision and Administration Commission, it was confirmed that the entity does not exist within the commission’s system. Currently, the market regulatory authorities are preparing to cancel its false business registration. Additionally, they have proactively issued warnings to other provincial and municipal market supervision authorities involved in the entity’s external investment activities.
More astonishingly, within less than two years, this allegedly counterfeit organization has set up multiple hierarchical holding platforms, directly investing in dozens of enterprises and indirectly controlling hundreds of companies, constructing a vast and complex network of “fake state-owned enterprises.”
Facing media scrutiny, a relevant official from the High-tech Development Zone Management Committee of Suizhou City told The Paper that they are aware of the public concerns and are organizing investigations to verify the situation. However, the staff of the Suizhou City Government Office and the Natural Resources and Urban-rural Construction Bureau claimed to be unaware of the circumstances.
In fact, Suizhou City Government is not the only one to have signed investment agreements with this counterfeit State-owned Assets Supervision and Administration Commission entity. Earlier in March this year, Yang Zhenhu, Chairman of Aviation Future Energy Company and Director of Hubei Zhongjia Aerospace Technology Co., Ltd., signed a strategic cooperation agreement with project leaders from China Five Continent Engineering Design Group, Beijing Deheng (Xixian New Area) Law Firm, China Construction Design and Research Institute Co., Ltd., and Hubei Provincial Bidding Co., Ltd.
After the news was reported by the media, it has drawn widespread attention and discussion on online platforms.
Many netizens have commented, expressing concerns about the situation. Some said: “Desperate times call for desperate measures. Suizhou’s economy was already struggling within the province; a genuine major project wouldn’t have been invested in a small city like Suizhou!”
“Raising a big flag to deceive everywhere and succeeding at it, this reveals the preference of some individuals for seeking big names as support. On the other hand, it highlights the ambiguity and mystery of state-owned and central enterprises.”
“I am from Suizhou. Just as we got a new mayor and municipal party committee, they were in a rush to show performance and signed contracts without properly verifying the qualifications of the other party.”
“They preach to the people every day to beware of scams, yet the mayor and party secretary can’t differentiate fake companies. How do you expect ordinary people to discern?”
Some netizens have speculated: “It always feels like there are major forces behind these massive frauds. The local State-owned Assets Supervision and Administration Commission must have been fully aware, but in the end, the scammers were caught.”