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    » 09/25/2006, 00.00

    CHINA

    Shanghai party secretary sacked for stealing 33 million euros



    The Party's central leadership forced Chen Liangyu, leader of the CPC in Shanghai, to step down after he was accused of involvement in a scandal about the alleged misuse of city pension funds.

    Shanghai (AsiaNews/Agencies) – The central leadership of China's Communist party has forced the party secretary of Shanghai, Chen Liangyu, to step down over a scandal involving alleged misuse of city pension funds.

    Xinhua News Agency said in a bare one-line announcement: "Shanghai Party chief sacked for pension scandal."

    Last month the central authorities launched a top-level investigation into Communist leaders' involvement in the "disappearance" of more than 10 billion yuan [around one billion euros] of a city pension fund.

    According to the evidence, Chan illegally invested nearly one-third of the whole sum for personal use. The inquiry revealed that the city's labour chief, a district governor and several prominent businessmen were also involved.

    Shanghai is the economic and financial hub China, but it also leads the way in corruption cases among Communist leaders.

    Corruption represented between 3.0 and 5.0 per cent of China's GDP, or between 409 and 683 billion yuan in 2004, the Organisation for Economic Cooperation and Development (OECD) said in a report last year.

    "There were big increases in corruption from 1987-1992 which was linked to the transition process of the economy," Janos Bertok, co-author of the report, said. "For the rest of the 1990s the level of corruption did not let up. . . .  As China's economy grows the opportunities for corruption also grow."

    In the first half of 2003 alone more than 8,300 officials fled the country and another 6,500 disappeared within China to escape prosecution for corruption and embezzlement.

    "Roughly two-thirds of the fugitives were senior executives of state-owned enterprises [and] between US$ 8.75 billion and US$ 50 billion were supposedly brought out of the country in recent years," the report said.

    According to official source, the number is growing up.

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    See also

    13/05/2009 CHINA
    Fresh set of arrests for corruption targets Guangdong security chiefs
    Police chiefs and public security officials targeted. Many see in it an attempt to clear out officials loyal to ex Shanghai Party chief, Chen Liangyu.

    27/09/2006 CHINA
    Party Central Committee to meet in October to launch Hu Jintao's "harmonious society"
    Shanghai party boss is sacked as the Communist Party gets ready to implement Hu's programme. As Hu and Wen consolidate power the Shanghai Gang is down and out.

    02/08/2016 17:58:00 CHINA
    Lobby of intellectuals calls for more freedom. Tripping up Xi Jinping's rivals

    As the next Party Congress approaches, conflicts between the Xi line and that of the liberals, the Youth League, the Shanghai Gang, are apparent in mainstream media. Meanwhile Xi maintains his grip on absolute power, just like Mao. An expert analysis by Willy Lam, on Chinese politics and society courtesy of the Jamestown Foundation.



    09/05/2007 CHINA
    CP congress starts in Shanghai
    This is the first meeting since Chen’s removal due to the pension scandal and the appointment of a new secretary. The selection of delegates for the national congress is anticipated, as is a report about Chen by the Commission for Discipline Inspection. The meeting may yield clues about how much power Hu enjoys in Jiang’s former stronghold.

    08/04/2008 CHINA
    The 16th richest man in China found guilty of corruption
    Zhang Rongkun was involved in illegal loans from the social security funds of the Shanghai Municipal Bureau. His was a clear example of how one can go from nothing to building an empire through connections and endemic corruption.



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