Shanghai’s star slips with party chief’s fall – Andrew Torchia
More reports are coming out about the downfall of Shanghai party secretary Chen Liangyu. From Reuters:
Are Shanghai’s days as the freewheeling, red-tape slashing golden boy of China’s economic boom coming to an end?
The dismissal in a corruption probe of the city’s most powerful official, local Communist Party secretary Chen Liangyu, suggests Shanghai might no longer take the lead as China pushes economic reforms and develops huge new economic projects.
The demise of one of its top political patrons shows the city’s relative status is slipping as it lobbies the central government in Beijing for resources and regulatory freedom, corporate executives and analysts said. [Full text]