Gitic hopes dashed

Article Abstract:

Foreign investors were unhappy to learn that China will not guarantee loans for companies that have failed during the Asian economic crisis. The Guangdong International Trust and Investment Corporation (Gitic) failed in October 1998. Hong Kong bankers are especially concerned about loans made to Gitic and other investment trust and investment corporations (Itics). Chinese officials put their efforts into managing an entire restructuring of the foreign investment sector.

Hong Kong, Foreign investments, Finance, Business failures, Guangdong International Trust and Investment Corp.

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Surviving the floods

Article Abstract:

Wuhan in central China was hard-hit by floods in the summer of 1998, but is struggling to recover. Its ports are large enough for ocean-going vessels to sail there directly from Hong Kong or any other major Asian port. A third bridge over the Yangtze river that will carry 50,000 vehicles a day is planned to be completed in Jun 2000. Other infrastructure projects include expressways, sewage disposal plants, railways and a power plant.

Economic aspects, Environmental aspects, Floods, Wuhan, China

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