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More than 10 Billion Yuan Embezzled from Insurance Funds
According to statistics from relevant departments, more than 10 billion yuan have been misappropriated from insurance funds. Professor Long Yifei of Renmin University of China is calling for the government to pass laws which allow people who embezzle insurance funds to be brought to court and punished.
Long has analyzed the problem, saying that there are no laws or regulations which take punitive measures against the illegal misappropriation of insurance funds. Thus, there is now way to hold those who embezzle insurance funds legally responsible for their behavior. There is nothing in the <> about embezzling insurance funds being a crime or punishing those who misappropriate insurance funds.
He said the core of social welfare is a insurance system. Long called for the National People's Congress to make a insurance law as soon as possible and, at the same time, the State Council should set up complementary regulations to guarantee legal backing for insurance.
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