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Old 18th June 2007, 06:37 PM
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Chinese banks punish speculators

China's banking regulator has punished eight banks for illicity lending money to two state bodies that invested the cash in the stock and property markets.

The China National Nuclear Corporation and China Shipping Group illegally used the billions of yuan loaned to them.

The China Banking Regulatory Commission (CBRC) has now punished 18 executives involved in the lending with penalties including warnings and fines.

Authorities fear increased speculation may lead to a stock or property bubble.



http://news.bbc.co.uk/2/hi/business/6763819.stm


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Old 18th June 2007, 08:24 PM
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Re: Chinese banks punish speculators

These were state bodies getting punished, not private individuals or corporations. Governmental bodies should not be speculating with their citizens' money.
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Old 19th June 2007, 04:03 AM
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Re: Chinese banks punish speculators

This is crazy, you got government bodies involving in hundreds of billions worth of real estate development projects, and they can't invest in stocks?
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