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Central National. Central federal government control of international banking institutions’ clients in Asia

Central National. Central federal government control of international banking institutions’ clients in Asia

Due to the extortionate investment in home and securities, GITIC neglected to meet its maturing debts and also the PBC declared its bankruptcy. 54 After a three-month amount of liquidation, it had been unearthed that GITIC’s aggregate assets were only RMB 21.5 billion while its liabilities had reached RMB 36.2 billion.