China may legitimize private enterprise; proposed constitutional change would mean easier access to bank loans

Article Abstract:

A proposed amendment in China's constitution being considered by the parliament would legalize the operations of private business enterprises. A distinct advantage that would be generated by the reform is the facilitation of bank loans needed by these enterprises. However, the amendment was believed to have a hidden agenda that would favor financially-troubled government enterprises. Private entrepreneurs such as Feng Lun of Vantone Group believed that the state policy still discriminates business operations from listing on the stock market or issuing bonds.

China, Government domestic functions, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Business Regulation NEC, Laws, regulations and rules, Private companies, Business enterprises, Commercial law

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China's proposals to WTO may have limited impact

Article Abstract:

China has proposed to reform some of its trade-related legislation in a bid to align itself with the provisions of the World Trade Organization. However, observers noted that China's move may yield minimal effect since the proposed reforms are focused on laws that are already obsolete. Others have asserted that China's proposal of allowing foreign traders to deal directly with clients by not requiring them to deal with state-run trading firms may be difficult to implement.

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Beijing plans to shutter some 150 trust companies

Article Abstract:

Chinese authorities intend to shutdown approximately half of China's 300 trust companies amid concerns over the country's poorly regulated financial system. The finance companies concerned are the ones which spread during the easy money period that propelled growth in the late 1980s and early 1990s. Asia's financial difficulties also prompted the move. The country's trust firms belong to the most fragile links in an already tremulous financial system.

Nondeposit trust facilities, Trust Companies, Trust, Fiduciary, and Custody Activities, Management

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