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Underground Lending in China Exceeds RMB 10 Trillion
Posted on August 04, 2008
The stock markets had a bad day, with the SSE Composite dropping 2.1% to close at 2741.7. Part of the reason for the decline was concern that a roughly $1 billion upcoming share sale by China South Locomotive and Rolling Stock Corp. will draw a lot of liquidity from the market (stock sales tend to be vastly oversubscribed, with investors required to put up 100% of the bid amount in cash in their stock accounts), but the decline was hastened late in the day when reports came in of a terrible attack on a police station in Xinjiang province that left 16 policemen dead. Here in Beijing ...
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