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To: Bob Biersack who wrote (220)	1/11/1999 11:50:00 AM
From: ksuave	Read Replies (2) \| Respond to of 1541

I almost had a heart attack: China's failed GITIC files for bankruptcy BEIJING (AP) - The investment arm of one of China's wealthiest provinces has filed for bankruptcy, leaving debts worth $4.3 billion, twice the initial estimate, an official newspaper reported Monday. Officials from Guangdong International Trust and Investment Corp. announced the losses after a meeting of a committee overseeing the company's liquidation Sunday, the Shenzhen Securities Times reported. The company, known as GITIC, leaves $4.3 billion in debts and assets of only $2.6 billion, the report said. . . .