A billionaire and former lawmaker from northeast China's Liaoning Province amassed his wealth thanks to the patronage of a former senior political adviser, it was claimed yesterday.

Fang Wei, who is said to have made his fortune through recycling scrap metal in the 1990s, was dismissed from his post as deputy to the 12th Standing Committee of the National People's Congress on Friday.

Two days earlier, Fang's alleged mentor Su Rong was removed from his post as vice chairman of China's top political advisory body for a suspected breach of discipline.

Fang is chairman of the board of Liaoning-based Fangda Group, a carbon, steel and chemical company. In 2012, then aged 39, he ranked second with an estimated fortune of 15 billion yuan (US$2.4 billion) in a Hurun report "The Richest Chinese Under Forty."

The native of provincial capital Shenyang set up Fangda in 2004 after acquiring two state-owned plants, one producing carbon materials and one processing iron ore.

By the end of 2005, the group possessed the assets of 1.4 billion yuan, according to the Caixin magazine website.

In 2006, Fang acquired a state-run carbon processing plant in Lanzhou, capital of northwest China's Gansu Province, where Su was the then provincial Party chief and top lawmaker.

In 2007, Su became the Party chief in east China's Jiangxi Province and Fang was a frequent visitor, reorganizing local state-owned mining companies, Caixin reported.

In 2012, Fangda worked with the Jiangxi Geology and Mineral Resources Bureau, planning to invest 10 billion yuan in a joint local metals exploration venture.

On Fangda's website, it claims to "listen to the Party and follow the Party's steps."

Fang also promoted the government's anti-corruption campaign, urging staff to "learn from what President Xi Jinping says,' Caixin reported.

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