Wu Wei to Become Shanghai Executive Deputy Mayor, Linked to Li Qiang

Li Qiang released the flood, submerging Xi Jinping's elite troops. (Illustration by People News)

[People News] According to an announcement on November 15 from "Shanghai Release," a public WeChat account run by the Shanghai municipal government, Wu Wei, currently a standing member of the Shanxi Provincial Party Committee and executive deputy governor, has been appointed as a member of the Shanghai Municipal Party Committee and its Standing Committee. Given that the position of Shanghai Executive Deputy Mayor has been vacant for a year, Wu’s appointment strongly indicates that he will assume this role. It is widely speculated that Chinese Premier Li Qiang is behind this decision.

Public records show that 55-year-old Wu Wei hails from Wuhan, Hubei. He began his career in July 1994 at the Wuhan Branch of the People’s Bank of China in the auditing department before working for over two decades at the Bank of Communications (BOC). Starting in 1998, he held various senior roles, including General Manager of the Budget and Finance Department； Head of the Liaoning Branch； General Manager of the Asset and Liability Management Department； General Manager of the Investment Banking Department； President of the Investment Banking Business Center

In April 2015, Wu became Chief Financial Officer (CFO) of the Bank of Communications, doubling as General Manager of the Asset and Liability Management Department. By September 2017, he was promoted to Vice President and CFO. In January 2019, he became an Executive Director, Vice President, and CFO. Later that year, he was transferred to Shanxi Province, where he served as a Standing Committee Member of the Provincial Party Committee and Executive Deputy Governor.

During his tenure as Executive Deputy Governor, Wu Wei was responsible for overseeing areas such as development and reform, finance, banking, emergency safety, energy transition, defense-related industries, foreign affairs, national defense mobilization, government administration (including information transparency and asset management), and the construction of the Taiyuan-Xinzhou Integrated Economic Zone.

His transfer to Shanxi in 2019 was likely intended to broaden his administrative experience. After five years, Wu is now returning to Shanghai, a city where he has deep professional roots, to assume a significant provincial-level position.

During Wu Wei’s tenure as Vice President and CFO of the Bank of Communications, Li Qiang was appointed Shanghai Party Secretary in October 2017, succeeding Han Zheng. As Party Secretary, Li actively promoted regional integration in the Yangtze River Delta, which required regular interaction with financial leaders like Wu. This suggests that Wu and Li likely had professional interactions during this period.

In February of this year, the CCP appointed Wu Qing, then Shanghai Party Deputy Secretary, as Party Secretary and Chairman of the China Securities Regulatory Commission (CSRC). Wu Qing, with two decades of experience in securities regulation, had served as Director of Institutional Supervision at the CSRC, Director of the Securities Company Risk Disposal Office, Director of the Fund Supervision Department, and Chairman of the Shanghai Stock Exchange.

Bloomberg reported, citing sources, that Xi Jinping selected Wu Qing to replace Yi Huiman due to his political reliability, competence, and willingness to follow Xi’s directives. Li Qiang’s recommendation was also a significant factor, as Wu Qing had worked closely with Li during his tenure in Shanghai.

Wu Wei’s re-entry into Shanghai’s political arena and his likely appointment as Executive Deputy Mayor demonstrate his professional connections to Li Qiang. Whether Wu’s promotion signals Li Qiang’s effort to build his own political network remains to be seen.

(First published by People News)