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New Network March 26, Zhejiang Xinhua known shocking than the facts. In Shanghai's pension fund nears its end, the main human comprised have way to judicial proceedings aboard the cause (along to the Xinhua News Agency, September 2006-December 2007 reporting period, Zhu Junyi, former Secretary of Shanghai Social Security Bureau, has imprisoned 18 annuals ; of the elemental Jubilee Group Chairman Zhang Rongkun, has been trial; the sometime Shanghai celebration secretary Chen Liangyu, has been cleared
the fashionable web on March 26, Zhejiang Xinhua known than the shocking facts.
revealed that the reporting system since the final centenary, the social security system was established in Shanghai 90 years to 17 July 2006 the appointment of the Shanghai social security incident, the Shanghai social security fund operation and management of the real situation.
disclosed in the report than the overall state of social security funds had exposed extra fearful cases of Jubilee: social security warranty fund, worth a aggregate of 32.944 billion, as of July 17, 2006, as yet revived asset totaling 25.541 billion, accounting for the equilibrium of 38.731 billion yuan in working chief 66 %。a large digit of illegal operators apt provide in the social security funds and the national macro-policy orientation does no match the industries - such as real possession.
, social security funds and even to the unscrupulous merchants and businesses a lot of financial advocate. . how to operate in the industry have always been two outlooks.
a view that, given the aging of China's huge population pressure, social security funds to pay the hereafter there is a huge pressure, so the system should be improved to allow the construction of the premise social security fund investment operations; the other view is that the social security fund is I hope all the former First Secretary of a representative point of view, has been to show his face a tough reformer. But immediately it seems I hope these two views is clearly ignore the side of both confrontation and more invariable side, that has improve the system and the rules beneath the premise of the sun to defend the safe operation of social security funds.
in front of the Shanghai social security inspect reports for people to show a not only incapable to embody the thrust to invest long-term investment in a large number of violations, yet too in the district of investment, investment procedures,
最高法院核准上海袭警案主犯杨佳死刑 -- 浙江新闻网 newspaper.zj.com, investment earnings delivery and other aspects, always serious problems.
even more worried approximately is this: this situation not only to Shanghai , not in no way other parts of the country.
2007 年 11 months, the National Audit Office of the 29 provinces (autonomous districts and municipalities), the Social Security Fund of the special audit results show that the violation happened before 1999 the amount of 2.347 billion yuan, violations have occurred since 2000, the amount is as tall as 4.788 billion yuan.
illegal operations 32.9 billion
1991, the state social insurance reform in accordance with the requirements established in Shanghai after another five basic social security system (pensions, therapeutic insurance, unemployment insurance, industrial injury insurance and maternity insurance) and corporate pension system. In addition, in around 1999, the Shanghai-based local characteristics, but also small towns have set up social insurance, small business wage protection fund, employees of foreign common insurance and other local social security system.
1993, previously known as the Shanghai social security bureau of Shanghai Social Insurance Authority was set up. Thus, the Shanghai Five began to take 1 risk system, that is, except health insurance, maimed security, rustic social endowment insurance, the rest of the social insurance funds by the Shanghai IESS unified management.
Since then, as famous in the audit report, two lines, the Municipal Finance Bureau also did not participate in the daily supervision and management of social security funds only for the anniversary accounts for reiterate and summary report Bureau of the hands of a ministry.
this is the Audit Commission dismissed as p> After a full year and a half (July 2006 -2007 years 12 months) of the audit, the National Audit Office obtained the following results: 17, has at present recovered 25.541 billion, accounting for the balance of 38.731 billion yuan of 66 %。billion, accounting for the total amount of illegal operations 93%.
audit report: 10043000000 loans to the boiling point delivery and enhancement of 2.4 billion, through institutions such as
China and Thailand trust loans 830 million, as of July 17, 2006, has by far recovered 9605000000. How many annuity kept secret. According to the 2005 Social Security Bureau deputy adviser of Shanghai Bao Danru publicly disclosed, then the hands of Shanghai's pension figures IESS 110 billion. amassed to the end of 2007, according to industry sources,
ghd styler mk4 hair straightener, the total amount of 150 billion yuan. by the This can be inferred, basic to all the home property IESS have come to Shanghai issued the Three other local laws and regulations, the establishment of a local social security system. During the ministry of the fund made the retinue provisions: to open a special account earmarked for whichever department, unit or individual shall not be lent,
mbt online, misappropriation, embezzlement, and the only word for capital operations not to mention a empty area.
audit report: 15706000000; use of remuneration protection fund small business loans to 185 million paid commission; with comprehensive insurance fund of exotic employees entrusted loan 5 billion. the local social security funds have not been recovered 14.156 billion. operation of the main reasons is that Shanghai was once known as enterprise annuity system, the operation easier to detect the gap.
instance, corporate pension system is based on the basic regulations in October 2004 published by the Ministry of Labour and Social Security, the necessitate the investment operations.
reach allows the enterprise annuity investment annuity prelude is to introduce market-oriented operational framework, the establishment of investment manager, account manager, the formation of checks and balances among the social security department of the administration power to break the monopoly situation.
at a time when Shanghai was not the circumstance - since 2002, the establishment of enterprise annuities megalopolis in Shanghai this IESS IESS a part of public institutions since its almost single-handedly took control of all enterprises in Shanghai pension.
addition to these 2 big diversion, the Shanghai Social Security Bureau has also peculated 2.08 billion basic social insurance fund yuan.
audit report: As of July 17, 2006, has even now recovered 1.78 billion. 2 / 3 or more violations of social security funds are invested in real estate industry.
audit report:
201.25 亿 average? According to the Shanghai Banking Regulatory Bureau of Statistics, Shanghai's real estate business credit throughout the year is less than 100 billion. 20.1 billion watched enough to change the overall situation of Shanghai real estate credit market .
the result of social security funds from the stock market is such a >
It is understood that the Shanghai social security fund operations in three phases, and its expansion since 2002 into the operational phase. but at this time is the Shanghai real estate market has strengthened the time, and even occasion many chief banks and other citizen creations early warning whistle, claiming implementation of the national macro-control policies.
a large number of social security funds into the market is apparently heating up on the Shanghai attribute market has played a role in oiling. accent in this.
audit report disclosure on this issue in detail, such as 2003, the central bank introduced the But reverse the line over the same period, from 12 to Yongde villa project loan of 2.5 billion.
Moreover, most of which 20.1 billion invested in the sub-national loan conditions severely limited the real estate business.
under the .
the audit report reveals, the Shanghai social security fund dispensed free to loosen loan conditions do not encounter the conditions of enterprises, a total of 15.907 billion loans to the substandard conditions of 36 real estate narrated businesses.
triple the risk
commissioned in 1994 has operations in Shanghai Pudong Development Bank, Shanghai social security fund's investment operations area has been in mysterious, not as basic as a relatively sound financial institutions, vocational risk control machinery, the risk Natural self-evident.
audit report cites one example: In a capital market, due to lack of funds IESS operational control of the commission, loss of social security funds of up to 92,622,000 yuan.
the characteristic fact is that in July 2001, IESS out annuity 2 billion, Huaxin securities entrusted to the operation of security at the Shanghai Instrument and Electronics Group. Later, Huaxin securities mortgaged by direction of bond repurchase He migrated to do 130 million, and finally unable to pay.
funds to cover losses, Instrument and Electronics Group, has a writing value of its assets is assessed to 20052 51971700. million, by the tribunal to instrument Power Group under the mortgage business as a way of arrears, IESS mortgage assets, in mandate to cover up financial losses caused by illegal investment.
of 92.622 million yuan. , social security centers, social security institutions are extracted from the social security fund management fees to nourish the operation, No. 27 of 1998 explicitly provides not social security agencies mentioned from the regional social security fund management fares, maintenance of the full allocation of financial operations.
However, the Shanghai Social Security Bureau did not comply with this provision, but multi-line composition management system also caused some risk, offset by substance prices there is the case. The audit found the material to offset the arrears to 3.78 billion.
15 years of investment Way
Throughout the history of Shanghai social security investment, large the scale of investment starting in 1994, 15 years of road shows, both in the investment field, investment procedures, or all aspects of the allocation of investment income, after the decision by a minority, lack of supervision of the operating mode is a bad intention.
1994, the Shanghai Pudong Development Bank coincided to the government's social security fund established under the Ministry solely responsible for the operation of social security funds, the investment in the Shanghai social security fund the first phase.
the Social Security Fund custodian business model had written 1994 enactment of
1994 年 to 1998, the Ministry of Social Security Social Security funds through the Pudong Development has invested 10.52 billion, chiefly real estate and securities investment.
1998,
江苏睢宁国税局窗口服务人员笑迎“微笑日” -- 浙江新闻网 news.zj.com, due to the focus of talk shows announce in Sichuan social security the case of misappropriation of funds, then the State Council, after seeing the national inventory of social security funds necessary, followed by the State Council No. 27 is published.
27 documents on the one hand strictly restricted the scope of the local social security funds can only invest is the existence of state-owned bank or buy bonds, on the other hand remove of the local management of social security funds by income and disburse, Financial Bureau set up by the special financial accounts.
a result, the Shanghai social security in consensus with citizen requirements ,
where to buy ghd hair straighteners, in 1999, clean-up operation to recover the funds entrusted to Pudong Development, clean-up continued until the end of 2005.
It is understood that this stage of the investment income can still be a total of 4.091 billion yuan from investment income. However, IESS had tried to hide investment income. IESS, as operator of the subject, entered the second phase - the initial stage of self.
this period, for security attentions of social security funds, real estate investment and portfolio investment has been strictly banned,
mbt habari birch, but , the Shanghai social security fund by this time not only not to get out from out of the real estate, on the inverse continue to vigorously enter the real estate field.
In the meantime, the social security fund to Allianz and the East in the name of evolution, have invested the Tomorrow Square, Silver Court, Eastern Tower, Raffles City Plaza and the East China Sea five mercantile real estate.
If the first stage,
tory burch free shipping, the social security fund investment in real estate and the stock can still be interpreted as At this point, distinctly defying the law.
2002, the social security fund operations into the third phase of the most dangerous - to amplify the operational phase, the problems began to converge on the eruption.
a IESS cadres admitted to the operation of social security funds, social security bureau was established in 2000 social security funds operating procedures.
But the reality is, for many years in the operations of social security funds even within IESS, only a very few people know. In addition to the small number of people participating offices and bureaus in the other people do not know the value of funding and financial service providers. only a summarizing is a conference in late 2005 accused on financial operations to the universal overview of the work, but did not disclose the specific situation of increasing the value of the investment.
and its decision-making process, what areas to invest, invest in what way, it is only a few directors and individual chairmen to main the Deputy Secretary for oral, these cases have never been argued in the director's office, he was until July 2006, do not even know the amount in the appoint of the Shanghai social security fund management reform, in fact, has been depressed to a few people control the money game.
since 2002, IESS fund operations meantime expanding the scale and coverage, in addition to business Pension Fund, also amplified to other types of insurance, as in July 2006, operating fund balance approaches 38.731 billion; the other hand, including the use of entrusted loans,
上海推出入境新政 针对外籍高层次人才及投资者 -- 浙江新闻网 newspaper.zj.com, trust loans, direct loans to buy bank debt and other forms began operating, capital risk of further exaggeration.
It introduced a cadre of IESS, social security funds for trust management, beginning in 2000 via the three modes, premier mode of the unity of banks and securities, the funds entrusted by the IESS Securities and corporate finance, banking as a third party is responsible for security, then the role of banks by the certify into a regulation before and after in November 2003, the bank managed from the regula
tory changes.
a veteran of the lawful career , by changing patterns of these three funds side (social security funds) the hazards in fact been gradually amplified.
He explained: , which guarantees the greatest liability, once the financial losses, the banks should all take Peifu duty, managed hosting ambition rely on the specific terms of how to sign, it sets out a rigid trust responsibility, in general, but money in the bank, no transmit of ownership, Banks do not take risks. year, the Social Security Fund began in individual securities companies to carry out fiduciary bond trading.
the surface, the social security funds to buy government bonds as permitted by national law, but it also exists after the follow-up risk. pledge, the social security funds are not allowed to enter the securities market on the 'curve' market, in our handling of the case, the social security money in this situation. Shanghai social security has also taken the model of trust loans, the same basic rule and trust management. aforementioned IESS insiders, commissioned by the Trust only to the three loans, that, love of mansion trust, Trust International Trust and Warburg. The difference is that in Trust International Trust and Warburg, social security funds are divide accounts, but there is no built in love.
the legal profession that there is no independent account, made construction of the social security trust funds and adore mingled into one's own funds, complicated to assure equity of their funds. And this love built operating disorder itself is also a public topic in before years.
the entrusted loan is the latest of a model is only in Q4 2004 started.
IESS the basic path is the money through a bank to the borrower, the borrower have to provide collateral to the debtor, the Bank for supervision.
Zhang Rongkun the boiling point of investment is adopted this model, that IESS lending to the boiling point of the company, the boiling point of the company use the money to buy after the Shanghai-Nanjing Expressway, backhand IESS pledge expressways.
informed source, after 2004 , due to national real estate credit tightening money afford, real estate companies is very difficult from the bank loans, and social security bureau entrusted loans is relatively easier. for the program is quite easy - the borrower chose by the IESS, through bank loans procedures. neither the honor of the borrower, repayment competence of the critical review of the project's own compliance requirements are very lenient.
a result, a large number of 4 cards was lacking, insufficient self-owned start-up capital success of the project received financial support from the social security bureau. The audit report shows that there are 15.907 billion loans to the substandard conditions of 36 real estate companies.
a diversity of ways in addition to the risks of operating outside the capital , IESS interior building is a muddle, so-called interior division of fatigue norm exist in name only.
2002, the Shanghai Social Security Bureau also set up a social security center and the center of the two major utilities annuity, but in fact, the basic old-age insurance and annuity right and left hands like Shanghai IESS.
accord covers the center of enterprise annuity chapter. taking into account the IESS is the government agency to operate on behalf of Council not appropriate. IESS fund supervision and management is that a business executive offices are equipped with the duty of the metropolis to amplify the social insurance fund management and operation of the plan; union of social insurance fund ration and ultimate accounts of the work programming; the implementation of social insurance fund management administrative supervision other.
practice, although, ought bear the executive oversight functions within the offices did not act their proper functions of administrative supervision, on the contrary, the so-called oversight functions of its elite is reflected in the investment of social security funds review on the project.
insiders, according to the offices, the Fund Management Services since 2000, responsible for the regulation of fund operations. In 2004 Q4, IESS began to agree in loan projects commissioned by the Fund Management Services is responsible for custodian of the funds heaved at the letter of intent to review the project and report to the leading to the Board, while collateral review.
more ironic is the custodian of funds, the agency was built in November 2003. is the responsibility of setting up the starting of the original has been operating in the stock market to do clean-up revitalization of funds entrusted to fiscal management, but in the beginning of 2004 Q3 IESS trust management project, not only not wash up recovery of its features, but is to continue borrowing.
bit insiders said.
remedy
social security afterward the episode, Shanghai began to actively take remedial measures.
2006 by the end of the Shanghai municipal government adopted the executive meeting Shanghai Municipal Social Security Oversight Committee.
According to the civic Labor and Social Security Bureau of the human in charge of the main duties of the Oversight Committee in counting to social security oversight of the city's major issues, but also according to the Organization for Security Policy implementation and the social security fund treatment operations to monitor the situation, and promulgating the social security fund treatment and oversight.
2007 年 5 19, was set up Shanghai Changjiang Pension Insurance Company, the company consists of 11 central and Shanghai co-sponsored by state-owned enterprises with a registered capital of 500 million yuan.
opening day, when he was Shanghai party secretary Xi Jinping and Mayor Han Zheng and other leaders will all be present. It is reported that the Yangtze River the company has made enterprise annuity business qualifications, to undertake before the entire enterprise annuity.
According to the parties cared revealed that recovery of social security funds clean-up work is still underway, due loans has been gradually recovered, the famous Loans are also concerned the strict supervision, will gradually recover.
audit report revealed that, as of April 23, 2007, 25.541 billion 16.771 billion has been recovered.
Audit report the circumstance of Shanghai social s
Academi
Linear Mode
