Grant, James
October 2006
Forbes Asia;10/2/2006, Vol. 2 Issue 16, p58
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.


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