【Epoch Times October 13, 2025】 The Secretary of the Party Committee and Chairman of the Shenzhen Metro Group, as well as the Chairman of Vanke Group, Xin Jie, has been out of contact for more than 20 days. Following reports circulating online that he was taken from a meeting venue, Vanke announced that Xin Jie had submitted a resignation report.
On October 11th, a large number of mainland Chinese self-media outlets widely reported Xin Jie’s disappearance. In the afternoon of the 11th, the “Earth Building Research Institute” revealed that Xin Jie had been out of contact and was taken away on September 18th during a meeting in Shenzhen, after which the news became inaccessible.
Financial headlines author “Li Dan Fintalk” posted stating that amidst the “Clean Action,” the fact that these self-media articles could still be released and preserved meant the information had been “certified” by the authorities and was not hearsay.
On October 12th, mainland real estate and financial media outlets such as China Real Estate Financials and Sina Finance reported on the issue.
On October 13th, Vanke Corporation announced on the Hong Kong Stock Exchange that it had received a written resignation report from Xin Jie, the Chairman of the company, on October 12, 2025. Xin Jie applied to resign from his positions as non-executive director and chairman of the company due to personal reasons, and would no longer hold any position within the company. The 24th board meeting elected Huang Liping as the chairman, with his term starting from the date of board approval until the completion of the 20th board term of the company.
According to publicly available information, Xin Jie’s last appearance was at the Vanke shareholders’ meeting on June 27th, during which he stated that the integration of Shenzhen Metro and Vanke would achieve “1+1>2.”
Public records show that Xin Jie was born in 1966 and had been working in the Shenzhen state-owned sector for more than 20 years, starting from the Shenzhen Foreign Trade Group and later managing state-owned enterprises such as Shenzhen Saint John’s Hotel, Great Wall Investment, and Tianjian Group. He had been the chairman of the Shenzhen Metro Group since 2017.
In 2017, Shenzhen Metro Group acquired Vanke’s equity, becoming its largest shareholder. It was only in January 2025 that Xin Jie succeeded Yu Liang as the Chairman of Vanke, leading the state-owned enterprise to fully steer this domestic real estate giant.
However, at that time, Vanke had already sunk into a debt crisis from which it struggled to extricate itself. According to “Deepwater Financial News,” Shenzhen Metro Group’s resources were depleted due to continuous rescues of Vanke.
After taking over, Xin Jie assembled a new management team at Vanke, most of whom were his subordinates from Tianjian Group and Shenzhen Metro Group. As Vanke’s largest shareholder, Shenzhen Metro Group continued to provide financial support.
In 2025, Shenzhen Metro Group provided multiple loans to Vanke and facilitated organizational restructuring, with Xin Jie being considered the “firefighter” from Shenzhen state-owned enterprises deployed to Vanke.
By August 5, 2025, Shenzhen Metro Group had provided Vanke with loans totaling 25.941 billion RMB, often offering financial support at below-market interest rates. In addition to direct loans, Shenzhen Metro also supported Vanke through the acquisition of project income rights. However, despite continuous infusions from the major shareholder, the debt structure of Vanke remained burdensome amidst the rapid decline of the Chinese real estate market.