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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (26427)	3/28/2005 2:01:21 AM
From: RealMuLan	Respond to of 116555

China official: Bank reform faces hurdles By MarketWatch Last Updated: 3/28/2005 1:39:31 AM SAN FRANCISCO (MarketWatch) -- A top Chinese bank regulator said the Agricultural Bank of China and the Industrial and Commercial Bank of China could find reform more difficult than their peers as they have more bad loans and deep-rooted problems, according to a published report. Two other lenders, the Bank of China and the China Construction Bank, aim to list this year either in Hong Kong or New York. Even these two "need to do more homework" before they qualify, Tang Shuangning, vice chairman of China Banking Regulatory Commission, was quoted as saying in the China Securities Journal newspaper, according to AFX-Asia. The Agricultual Bank and the Industrial and Commercial Bank of China are due to start reforms after these listings and must focus on improving the quality of their assets and financial performance, Tang said. The Industrial and Commercial Bank of China, in particular, should pay close attention to the problems and uncertainties brought by the bankruptcy of state-owned-enterprises, while the Agricultural Bank should tie its reforms to the overhaul of the country's rural financial system, Tang reportedly said. He did not say what form the reforms would take, but earlier media reports said the banking regulator would help the Agricultural Bank of China dispose of its non-performing loans. China has already injected $45 billion into the Bank of China and the China Construction Bank to help clean up their books. Both banks have recently been linked to financial scandals. Over the weekend Xinhua news agency reported that a former Bank of China typist was arrested for allegedly embezzling $6 million, AFX reported. China Construction Bank announced that its chairman, Zhang Enzhao had resigned for personal reasons. Media reports said he was suspected of being linked to a $1 million bribery case. Copyright ©2005 MarketWatch, Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc." investors.com

To: RealMuLan who wrote (26427)	3/28/2005 12:32:54 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 116555

Well, the main question I have will China's consumption of sugar grow above the ability to harvest sugar cane