Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2312)	12/31/2003 3:19:32 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China on verge of landmark clean-up of bank debt Reuters, 12.29.03, 3:54 AM ET By Tamora Vidaillet BEIJING, Dec 29 (Reuters) - Beijing is close to unveiling a landmark package to clean up the debt-ridden balance sheets of one or two key banks, preparing them for stock market listings that could draw on a frenzied appetite for China-related shares. A broad outline of how China will help some of the "Big Four" members of its technically insolvent banking sector write down a mountain of bad loans could come as early as this week, analysts say. It could involve the government pumping in billions of dollars. China has long touted plans to list some of the Big Four by 2006, when foreign banks will have unfettered access to a market flush with $1.3 trillion in personal savings. Dealing with bad assets, amounting to at least two trillion yuan ($240 billion) among the Big Four alone, is crucial to sustaining China's annual economic growth rate of eight percent plus. "They may wish to announce something by the end of this year, to be accomplished next year," said Wei Yen, senior credit officer at Moody's Investors Service ratings agency. There was no immediate comment from the State Council, or cabinet, and banking related authorities in Beijing. ... forbes.com