From China Business News (第一财经日报) via sina.com.cn, translated by CDT (photo: Shanghai Mayor Han Zheng, via China Daily):
Shanghai mayor and acting party secretary Han Zheng (韩正) proudly announced at a government report meeting of the city that all the illegitimately used pension funds, totally 3.7 billion yuan including interest, have been recouped.
Without naming a name, Han noted the scandal caused very bad “political impact (ÊîøÊ≤ªÂΩ±Âìç),” and that it involved a number of officials in important positions. The case “exposed the flaws of our system, loopholes in our management and a lack of supervision.” He called for learning from the lesson and improving the work. [Full Text, in Chinese]
– previous coverage on pension fund scandal and Chen Liangyu
