Resisting the centre

Article Abstract:

Guangdong province's leadership, including Gov Zhu Senlin, is quietly defying the economic austerity program that senior Vice-Premier Zhu Rongji announced for China in Jul 1993. This program is intended to curb the rising investment and inflationary rates that have accompanied China's economic reforms. On Jul 23, Guangdong's leaders indicated that they would reduce the lending by provincial banks that is a prime target of the austerity program. However, provincial leaders declined to stop any projects or to give up goals for growth such as a 13% yearly rise in gross domestic product.

Guangdong, China

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Desert mysteries: cost questions face foreigners eyeing the Tarim

Article Abstract:

Government-owned China National Petroleum Corp in Feb 1993 opened a 72,000-square-kilometer portion of the Tarim Basin to development by foreign oil companies. Tarim Basin is in Xinjiang Autonomous Region in western China. However, the Chinese differ as to how much oil the released area actually has. The region's inaccessibility and distance from markets may deter foreign companies. Leasing equipment from the Chinese amd forming joint ventures with the Chinese oil industry for exploration and development are two strategies by which foreign companies could reduce expenses.

International aspects, Petroleum industry, Natural resources, Natural gas exploration, Oil and gas exploration, Petroleum exploration, Tarim Basin

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Share float torpedoed: Peking puts damper on city's stock issue

Article Abstract:

China's State Council on Apr 28, 1993 directed that officials in Urumqi, capital of the Xinjiang Uygur Autonomous Region, not allow a planned stock listing for the state-owned Hongyuan Investment Trust. Hongyuan was intending to issue $9.9 million worth of shares to the public. However, growing public excitement over the issue drove the price up 100% and suggests that the central government is profoundly worried about the rise of unauthorized cash-raising vehicles.

Stocks, Stock-exchange, Securities listing

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