One more rippling effect of the downfall of the former Shanghai boss:
Vice chairman and president of Shanghai-listed Haixin Group ” one of China’s largest plush manufacturers and producer of the 2008 Beijing Olympics mascots — is cooperating with the authorities regarding an investigation into his violation of disciplinary rules, according to a company statement.
Yuan Yonglin (Ë¢ÅÊ∞∏Êûó), born in December 1948, was formerly the manager and party secretary of a township factory in Shanghai’s Songjiang District.
The city’s 10 billion yuan corporate annuity fund has been managed via irregular loans without proper collateral and through long-term investments in industries like real estate with liquidity risks, industry sources said. [Full Text]
– CDT’s posts on Chen Liangyu
