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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (2431)1/8/2004 8:04:26 PM
From: RealMuLan  Read Replies (1) of 6370
 
Foreigners in on Chinese bank bailout

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SHANGHAI - China has indicated it is ready to put up to 100 billion dollars into its ailing banking sector in an effort to clear a massive overhang of bad debt at the major banks, which will also be allowed to seek foreign investment.
The government will transform some of the state banks into public shareholding companies, paving the way for the introduction of outside investors, Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), said.
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