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A BEIJING INVESTOR READS CENTRAL BANK STATEMENTS ON CLOSURE OF A TRUST FIRM, 2000-02-29 (photo)

IMAGE number
REU7706419
Image title
A BEIJING INVESTOR READS CENTRAL BANK STATEMENTS ON CLOSURE OF A TRUST FIRM, 2000-02-29 (photo)
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Medium
photograph
Date
2000 AD (C20th AD)
Shooting Date
2000-02-29
Image description

A Chinese investor reads Central Bank statements on closure of a trust firm in Beijing February 29. The statements put up at the office of the Hainan Hong Kong and Macao International Trust and Investment Company announced that the government closed the company because "it seriously violated business rules" and "was unable to pay maturing debts". The Central Bank had confiscated the trust's financial business licences, including a foreign exchange licence. Official media have said China was striving to clean up problems loans stuck in property projects in Hainan province and had so sar recovered 37 billion yuan ($4.45 billion) in problem loans. ASW/TS

Photo credit
REUTERS / Bridgeman Images
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