Make a Swift Break: Xin Jie Resigns as Chairman of Vanke

After Xin Jie's incident was exposed last weekend, although Vanke officially did not respond publicly, the company's board of directors quickly made a personnel change.

Early on October 13th, Vanke A issued an announcement: The company's board of directors received a written resignation report submitted by Mr. Xin Jie, the company's chairman, on October 12, 2025. Due to personal reasons, Mr. Xin Jie applied to resign from his positions as a director and the chairman of the company, and he will no longer hold any position in the company after his resignation.

The resignation report took effect on the same day, that is, on October 12th, Xin Jie no longer served as the chairman of Vanke and no longer held any position within the Vanke Group.

However, perhaps due to the rapid personnel change, the information on Vanke's official website has not been updated yet.

Source: Vanke's official website

Xin Jie is the "dual" chairman of Vanke and Shenzhen Metro Group. Previously, in addition to serving as a director and the chairman of Vanke, Xin Jie was also the Party secretary and the chairman of Shenzhen Metro Group.

After Vanke's official announcement, Shenzhen Metro Group did not release any relevant information about Xin Jie's position change. The different speeds of change in the two companies are directly related to their corporate structures.

Vanke is a listed company controlled by a state - owned enterprise, and Shenzhen Metro Group is the largest shareholder. The appointment of Vanke's management personnel only needs to be reviewed and approved by the board of directors, and the procedure is transparent and mandatory. As a significant state - owned sole proprietorship enterprise in Shenzhen, the process of key personnel adjustment in Shenzhen Metro Group is more complicated. It needs to be reviewed and approved by the superior competent department before it can be finally determined. Therefore, the information release is relatively delayed.

The corporate structure of Shenzhen Metro Group:

Source: Official

Every key personnel change at Vanke has attracted external attention because Vanke was once a flag in the real - estate industry. Now, after the explosions of Evergrande, Sunac, and Country Garden, it is the one with the highest risk among the top real - estate enterprises, and the public generally worries about the next "powder keg" in the real - estate industry.

Previously, Shenzhen Metro Group's assistance to Vanke had shown initial results. According to the information publicly disclosed by Vanke and reports from authoritative media, from January 2024 to September 2025, Vanke completed a total debt repayment of approximately 46.154 billion yuan through various channels. Among them, as Vanke's largest shareholder, Shenzhen Metro Group directly contributed to the debt repayment through a low - interest loan of 25.941 billion yuan (with an interest rate of 2.34%). As of September 2025, most of the loans provided by Shenzhen Metro Group were used to repay the principal and interest of bonds in the public market. In addition, with the endorsement of the largest shareholder, Shenzhen Metro Group, Vanke optimized its debt structure by obtaining new financing and refinancing of 94.8 billion yuan and implementing 29.3 billion yuan of operating property loans, providing liquidity support for debt repayment.

Xin Jie's disappearance occurred at a critical time for Vanke to "safely reach the shore".

However, quickly cutting ties between Xin Jie and Vanke may better illustrate the support of relevant Shenzhen departments and Shenzhen Metro Group for Vanke. At the same time as Xin Jie resigned, Huang Liping took over as the chairman of Vanke to fill the vacancy.

Huang Liping was born in 1968. He is currently a director and a member of the Audit Committee of Vanke, and the deputy Party secretary, a director, and the general manager of Shenzhen Metro Group Co., Ltd. Huang Liping obtained a bachelor's degree in engineering from Tongji University in 1991 and a master's degree in engineering from Tongji University in 1994. He joined Shenzhen Metro Group in 1999 and started as the deputy general manager of a branch company. In August 2014, he was promoted to the deputy general manager and a member of the Party committee of Shenzhen Metro Group, entering the core management of the group. From August 2018 to February 2021, he was transferred to Shenzhen Talent Housing Group Co., Ltd. as the deputy Party secretary, a director, and the general manager. In February 2021, he returned to Shenzhen Metro Group, serving as the deputy Party secretary, a director, and the general manager, comprehensively presiding over the group's daily operation and management. In June 2021, one year later than Xin Jie, he entered Vanke's board of directors and served as a director of Vanke.

Huang Liping has long served as the second - in - command of Shenzhen Metro Group and is currently the best candidate to take over Vanke.

However, Xin Jie was born in 1966 and is 59 years old this year. Huang Liping is only 2 years younger than Xin Jie. Vanke's management has changed several times in the past year. Most of the old employees are still in the business line, and the largest shareholder controls the board of directors. There is still a gap between the new and old management. Judging from the current situation and the time, Vanke's personnel will still be in an unstable stage in the next two years.

Appendix: Xin Jie's resume

Xin Jie was born in June 1966. He is a senior engineer and a senior economist. He is currently the chairman of the board of Vanke Enterprise Co., Ltd., and the Party secretary and the chairman of Shenzhen Metro Group Co., Ltd. He graduated from the Electrical Engineering major of Shenyang University of Technology in July 1988, obtaining a bachelor's degree in engineering. From 1988 to 1998, he worked at Shenzhen Foreign Trade Group, successively serving as a business manager and a department head. From August 1998 to February 1999, he served as the deputy manager of Shenzhen Changsheng Industrial Development Co., Ltd. From December 2004 to October 2009, he served as the deputy general manager of Shenzhen Great Wall Investment Holding Co., Ltd. From October 2009 to September 2017, he worked at Shenzhen Tianjian (Group) Co., Ltd., successively serving as a director, the general manager, and the deputy Party secretary. Since 2013, he has served as the chairman and the Party secretary.

In June 2017, Shenzhen Metro Group spent 66.3 billion yuan to acquire Vanke's equity from China Resources and Evergrande, becoming its largest shareholder. At that time, it was Lin Maode, the former chairman of Shenzhen Metro Group, who led all this. One month later, Lin Maode retired, and Xin Jie replaced Lin Maode and was transferred to Shenzhen Metro Group to serve as the chairman and the Party secretary. In 2020, Xin Jie entered Vanke's board of directors as a representative of the shareholder. In January 2024, Vanke encountered a liquidity crisis. Yu Liang resigned as the chairman of the board, and Xin Jie took over, deeply involved in the reform of Vanke's governance structure and the resolution of risks. Shenzhen Metro Group started to directly support Vanke, especially in terms of financing. On October 12, 2025, Xin Jie resigned from his positions as a director and the chairman of Vanke.