China’s liquor industry has seen a series of top executives come under investigation. On January 10, Li Shuguang, the retired former chairman of Wuliangye Group, was investigated for suspected serious violations of discipline and law. Prior to this, Ding Xiongjun, the former chairman of Maotai Group, another leading liquor company, was also investigated on January 2.
At the age of 63, Li Shuguang had a long career in government positions, serving as the assistant mayor of Luzhou City government, chairman of the State-Owned Enterprises Supervisory Board of Sichuan Province, chief economist of the Economic and Information Committee of Sichuan Province, deputy secretary and deputy director of the Party Committee of the Economic and Information Committee of Sichuan Province.
In March 2017, Li Shuguang took over as the Secretary of the Party Committee and Chairman of Wuliangye Group. In January 2022, he was transferred to the position of Deputy Chairman of the Economic Committee of the Sichuan Provincial People’s Congress and stepped down in January 2023.
Wuliangye Group is a state-owned enterprise in Sichuan Province. According to the financial data disclosed by Wuliangye Co., Ltd. for 2021, the operating income in 2021 was approximately 66.2 billion yuan, with a net profit of approximately 23.35 billion yuan, a year-on-year increase of about 17%.
Li Shuguang’s personal income is also notable. According to the annual report of Wuliangye Co., Ltd., he received a total compensation of 1.0953 million yuan in 2020 and 0.8657 million yuan in 2021.
It is worth mentioning that just 8 days before Li Shuguang was investigated, another top executive in the Chinese liquor industry, Ding Xiongjun, the former chairman of Maotai Group, was also investigated for suspected serious violations of discipline and law.
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Three Hall-level officials of the CPC investigated, three former chairmen of Maotai Group fell.