Shanghai fund manager detained

The chief executive of Hua An Fund Management Co has been detained on suspicion of economic crimes, the Wall Street Journal reported, quoting a company statement. Han Fanghe did not report for work on Monday. The move may be linked to the Shanghai pension fund scandal that has already seen the demise of the city's Communist Party secretary Chen Liangyu, and other members of the politically renowned "Shanghai Gang", in the highest-level scandal in a decade. Hua An's five shareholders are all companies owned by the Shanghai municipal government and all were ultimately answerable to Chen.