Chen Liangyu (ÈôàËâØÂÆá), now former party secretary of Shanghai, was downed today for his involvement in the pension funds scandal. According to information available out of a recent investigation, Chen helped some businessmen and his aides and their families in lining their pockets in the misuse of social security funds.
Due to the “grave discipline breaching” and “serious political implications,” Chen was stripped of his membership to the Central Committee’s Political Bureau and helmsmanship of China’s largest city.
The central government says the crackdown on Chen demonstrates the firm decisiveness in fighting corruption. [Full Text in Chinese]