Golden crusades
Article Abstract:
The Beijing government has managed to halt illegal gold prospecting in the Xiaoqinling mountains of northwest China, but illegal mining of gold and other resources continues in other parts of the country. Gold mining and trading is under state control in China, but experts believe that illegal miners will take 20 tonnes of gold in 1997, compared to legal mining of 130 tonnes. The political battles over this issue illustrate the struggle between central and regional governments, as much of the mining is done by provincial or local governments.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Breaking the bank
Article Abstract:
The Chinese government is undertaking a programme of financial reform, by improving the banking sector. The Hainan Development Bank was closed on June 21 1998, after inspectors were called into assess the bank's loan system, which was near collapse due to the departure of a high ranking bank official with a large amount of depositor's money. China's non-performing loan value is about 1.6 trillion renminbi in 1998, split between 4 state banks and the 10 major commercial banks.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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