SHANGHAI - Families of 36 victims of the New Year's Eve stampede in Shanghai will receive a compensation of 800,000 yuan ($131,147) each, local authorities said Wednesday.

The 49 injured people will receive different compensations in light of their injuries.

The deadly stampede happened at 11:35 pm on Dec 31, 2014, when people assembled on Shanghai's historic riverfront walk, the Bund, to usher in the new year.

Eleven local officials were punished, city authorities announced Wednesday.

Four officials - Zhou Wei, Communist Party chief of Huangpu District, his deputy Peng Song, also district governor, Zhou Zheng, deputy district governor and Huangpu's public security chief, and Chen Qi, deputy police chief of the district, were removed from their posts.

Seven other officials in tourism, public security and urban management received disciplinary punishments, according to local authorities.