The full name of this tournament translates to Luoyang Longmen Cup Chinese Qisheng tournament (洛阳龙门杯中国棋圣战). Luoyang is a city in central China's Henan province. Longmen is apparently a reference to the city's local World Heritage Site Longmen Grottoes, the home of thousands of Budda statues. Qisheng is the Chinese equivalence of 'Kisei' meaning 'Go sage'.
The city of Luoyang has Go-playing traditions. Back in 2005, it celebrated becoming an 100-dan city (the total ranks of its professional players). Famous players from that city includes Shi Yue 9-dan and Zhou Heyang 9-dan.
There was another Qisheng tournament back in 2000's. But it lasted for a just a few years before its sponsor running into financial difficulties. That old tournament is referred to as 'Chinese Old Qisheng' in Go4Go database.
The main tournament has 32 players, 16 of which are qualifiers from a preliminary tournament that opens to all Chinese professionals. The remaining seats are reserved for previous year's winner and runner-up, international title holders, other top players on top of the official Chinese ranking list, and wild card players invited by the sponsor. They play five rounds in the single-elimination tournament with the final round 'best-of-five'.
There's no surprise that Zhe Heyang 9-dan benefits from the wild card system as he is a 'local boy'.