TITLE

BROKEN CHINA

AUTHOR(S)
Grant, James
PUB. DATE
October 2006
SOURCE
Forbes Asia;10/2/2006, Vol. 2 Issue 16, p58
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the problems of bribery and embezzlement within the banking system in China. Misdeeds seem especially prevalent in the bustling city of Shanghai, where a dustup surrounding the alleged misappropriation of assets from the $1 billion city pension fund has led to the forced resignation of three senior executives at the Shanghai Electric Group. And the Shanghai branch of Huaxia Bank has been exposed by a government audit in a scheme to underreport its nonperforming loans.
ACCESSION #
22735557

 

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