An anti-corruption crackdown in China has led to investigations into several prominent business leaders, including Zhou Jun, the president of Shanghai Industrial Investment. The Central Commission for Discipline Inspection (CCDI) is looking into him for suspected serious violations of law and discipline, which typically indicate corruption.
Shanghai Industrial Investment is a major player in the Chinese business community, specializing in infrastructure, property, and pharmaceuticals. Other executives from sectors such as technology, finance, and real estate have also been detained or investigated this year. This has caused concern among international consulting firms and created a climate of caution within the business community in China.
Fred Hu, CEO of Primavera Capital, has spoken out about the need for legal reform in China to protect entrepreneurs from arbitrary political interference and prosecution. This highlights the importance of safeguards and protections for business leaders at a time when many are under scrutiny from the anti-corruption watchdog.