Exclusive: Former President of World’s Top Port Operator Under Graft Probe

Yan Jun, former president of Shanghai International Port Group (SIPG), was placed under investigation, Shanghai’s anti-corruption watchdog disclosed Monday.

Yan stepped down two weeks ago from all duties in the company, citing “work-related reasons.” SIPG operates the world’s largest container port.

Following the disclosure of Yan’s probe, smaller rival Jiangsu Lianyungang Port Co. Ltd. made an exchange filing to halt a 1.5 billion yuan ($207 million) stake sale to SIPG. The deal, announced in March 2022, was part of a strategic collaboration between the two ports forged during Yan’s tenure.