BUSINESS

Shenzhen Metro Chairman Xin Jie Resigns After Six-Month Absence

Published: Apr. 30, 2026 9:20 p.m. GMT+8

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Xin Jie

Shenzhen Metro Group announced Wednesday that Xin Jie has resigned as chairman, ending his eight-year tenure. His departure follows a six-month absence from the public eye, amid speculation of an investigation.

Xin’s resignation concludes his leadership of the state-owned rail operator, a period overshadowed by the company’s financial entanglements with China Vanke Co. Ltd., a property developer grappling with significant debt. Vanke’s financial difficulties, exacerbated by the downturn in China’s real estate market, have severely impacted Shenzhen Metro’s earnings.

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Xin Jie resigned as Shenzhen Metro chairman after 8-year tenure, following absence since Sept 2025 amid detention rumors.
Company posted 37.2B yuan net loss in 2025 (up 10.8% from 33.6B yuan in 2024), driven by Vanke investment impairments; Shenzhen Metro is Vanke's largest shareholder.
Huang Liping now leads; chairman role vacant, no impact on operations.

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Who’s Who

Shenzhen Metro Group: Shenzhen Metro Group, a state-owned rail operator, saw chairman Xin Jie resign after eight years, amid investigation rumors and a six-month absence. As Vanke's largest shareholder, it reported a 37.2 billion yuan ($5.4B) net loss in 2025 due to Vanke impairments and real estate woes. Short-term debt rose 57.1% to 36.2 billion yuan. Huang Liping now leads. (68 words)

China Vanke Co. Ltd.: China Vanke Co. Ltd., a debt-laden property developer hit by China's real estate downturn, has caused major losses for largest shareholder Shenzhen Metro via impairment on its 66.4B yuan stake (acquired 2017). Leadership: Yu Liang replaced by Xin Jie (Jan 2025), then Huang Liping (Oct 2025). Xin's vice chairman role (late 2023) aimed to boost confidence.

Shenzhen Foreign Trade Group: Xin Jie held roles at Shenzhen Foreign Trade Group before joining Shenzhen Metro in September 2017.

Shenzhen Tianjian (Group) Co. Ltd.: Shenzhen Tianjian (Group) Co. Ltd. is a state-controlled urban construction firm. Xin Jie held roles there before joining Shenzhen Metro in September 2017.

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