Shanghai Boss Downed Amid Pension Funds Crackdown – Xinhua

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From Xinhua via .com, translated by :

Chen Liangyu (陈良宇), now former secretary of Shanghai, was downed today for his involvement in the pension funds . 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 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 says the crackdown on Chen demonstrates the firm decisiveness in fighting . [Full Text in Chinese]

Also Graft Eats Up Social Security Funds, NYTimes’ Scandals Emerging in Shanghai as Political Season Nears and Xinhua’s Shanghai party chief sacked for social security fund scandal

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