Haixin president caught up in pension scandal
31 October 2006
The president of the listed Shanghai Haixin Group, Yuan Yonglin, is under investigation by the authorities for involvement in the city's pension fund scandal, the South China Morning Post reported. Haixin said Yuan was suspected of violating regulations and that his alleged offences were "personal" as opposed to related to company activities. The corruption probe surrounding the pension fund has already snared Shanghai party secretary Chen Liangyu while five executives from Shanghai Electric Group - which it is claimed bought shares in Haixin - are among a growing number of executives under investigation. Seperately, Supreme People's Court President Xiao Yang vowed in a report submitted to the Standing Committee of the National People's Congress Monday to take the corruption fight to the judicial system and stamp out cases of judicial misconduct that have undermined public confidence in judges.
