Chongqing's anti-corruption campaign within state-owned enterprises continues to intensify. On the afternoon of July 24, Fengzheng Bayu released information stating that, according to the Wulong District Commission for Discipline Inspection and Supervision, Li Zhiqiang, Secretary of the Party Committee and Chairman of Chongqing Wulong Energy Development (Group) Co., Ltd., is suspected of serious disciplinary and legal violations and is currently undergoing disciplinary review and supervisory investigation.
It has been noted that Li Zhiqiang was investigated while still in his position. Public records show that Li Zhiqiang, male, was born in May 1978 and is a native of Chongqing with a university degree. He began his career in the broadcasting and television system of Wulong County and previously served as the Deputy General Manager of Chongqing Wulong Tourism Industry Group. He was transferred to the position of Chairman of Wulong Energy Development Group in October 2024.
Data from Tianyancha indicates that Wulong Energy Development Group is a district-level state-owned enterprise, wholly owned by the Wulong District State-owned Assets Supervision and Administration Commission of Chongqing Municipality, with a registered capital of 3 billion yuan. Its business scope covers hydropower, natural gas, and mineral development. The group is a key force in Wulong District's energy industry development, with a long-term focus on the clean energy sector. Its subsidiary, Longrui Company, has been recognized as a national high-tech enterprise, concentrating on core technologies such as normal-pressure shale gas utilization, holding one invention patent and ten self-developed software copyrights, making it a significant pillar of regional technological innovation.
It has been observed that Li Zhiqiang had already stepped down as the legal representative one month before his investigation (June 2026), although his executive position was still listed as Chairman. The official website of the Chongqing Wulong District State-owned Assets Supervision and Administration Commission shows that four district-level SOEs publish their employee wages: the District Tourism Industry Group, the District Urban Development Group, the District Energy Development Group, and the District Agricultural Industry Development Company. In 2023, the District Energy Development Group had 320 employees, with an average annual per capita wage of 104,600 yuan.
While Wulong Energy Development Group has not publicly disclosed its financial data, it has been found that just three months ago, it successfully issued 400 million yuan in corporate bonds. Data from the Shenzhen Stock Exchange shows that Wulong Energy Development Group applied for issuance on September 25, 2025, for the "Chongqing Wulong Energy Development (Group) Co., Ltd. 2026 Non-Public Issuance of Sci-Tech Innovation Corporate Bonds to Professional Investors." The total issuance amount was 400 million yuan, with a coupon rate of 2.3% and a bond term of 5 years. The bond was issued through in April 2026. The final bond securities code is "520092," and the short name is "26 Wulong K1."
In previous official propaganda by Chongqing's state-owned assets authorities, it was stated that this bond achieved a "zero breakthrough" for sci-tech innovation bonds in the southeastern Chongqing region. It is also the first bond issued by Wulong District on the Shenzhen Stock Exchange. The coupon rate for this sci-tech innovation bond was as low as 2.30%, setting a historical low for coupon rates among industry entities with the same rating and bond type in the Sichuan-Chongqing district and county level, as well as a historical low for Chongqing's sci-tech innovation bonds with the same rating, type, and maturity.