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To: Investor-ex! who wrote (25862)1/11/1999 8:56:00 AM
From: Hawkmoon  Respond to of 116762
 
The central People's Bank of China ordered GITIC's closure three months ago after it failed to meet its loan obligations.

I think this may have already been factored into the current equation. I recall this being discussed month ago when China announced that they were not going to bail out the GITIC.

This is part of the Chinese cleaning up some of their more speculative financial ventures. Some folks (analysts) actually considered this positive since it displayed an effort by Beijing to create credibility for its banking system.

I don't want to say its a non-event, but hopefully it has been factored if for now.

Regards,

Ron