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To: goldsnow who wrote (4515)	12/20/1997 11:53:00 AM
From: goldsnow	Read Replies (2) \| Respond to of 116753

"In light of the faltering economy and the reluctance by banks to provide loans, 92.4 billion yen will be alloted for measures to cope with difficulties faced by medium to small businesses in raising funds." biz.yahoo.com "The draft, compiled by the Ministry of Finance (MOF), reflected the two, sometimes conflicting goals." ''It was the best that we can do while under a policy of fiscal reform,'' Finance Minister Hiroshi Mitsuzuka said. biz.yahoo.com

To: goldsnow who wrote (4515)	12/21/1997 10:39:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116753

China stays bullish amid Asian economic woes 05:12 p.m Dec 21, 1997 Eastern By Paul Eckert BEIJING (Reuters) - China tried to underscore its immunity from Asia's economic problems Sunday as state media carried forecasts saying the economy would grow a healthy 9 percent this year and sustain growth into 1998. Amid predictions of tough times for the Asian tigers in 1998, the Year of the Tiger on the Chinese zodiac calendar, China's economy would purr along at growth rates of 8 to 10 percent, the China Daily quoted a leading economist as saying. The State Statistical Bureau predicted gross domestic product (GDP) would grow 9 percent, with inflation at about 1 percent, the newspaper said. Qiu Xiaohua, chief economist at the statistical bureau, said this years' rates could be sustained in 1998 if Beijing continued macro-economic adjustments and avoided international turmoil, the daily was quoted as saying. The newspaper, quoting a State Planning Bureau official, cited the removal of infrastructure bottlenecks to growth and more competition among domestic firms as reasons for optimism. However, echoing Foreign Trade Minister Wu Yi's warning last week of ''great challenges'' to China posed by weaker currencies in Southeast Asia, the official said Chinese exports would be hit by regional economic turbulence. Asia's financial woes -- which prompted the International Monetary Fund to slash combined 1998 growth forecasts for Thailand, Indonesia, Malaysia and the Philippines to 1.7 percent from 5.4 percent -- showed the wisdom of China's cautious approach to opening its markets, Beijing officials said. The region's crashing currencies and stock markets were a warning that China should not rush to open its capital markets, said Liu Guangcan, a senior economist of the State Administration of Foreign Exchange. China last week strengthened rules on foreign borrowing and bond issues in foreign currencies by Chinese firms in a sign it was moving to control foreign debt levels to avoid the currency and financial problems of other Asian countries. Copyright 1997 Reuters Limited. All rights reserved.