Four Hainan Financial Institutions Suspended

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Last updated at: (Beijing Time) Sunday, November 25, 2001

Four Hainan Financial Institutions Suspended

The People's Bank of China, the country's central bank, has ordered the suspension of four non- bank financial institutions in south China's Hainan Province for malpractice.

The People's Bank of China, the country's central bank, has ordered the suspension of four non- bank financial institutions in south China's Hainan Province for malpractice.

The four institutions -- the Hainan Huayin International Trust and Investment Corporation, the Hainan International Renting Company, the Hainan Huitong International Trust and Investment Corporation and the Sanya Trust and Investment Corporation -- have been suspended since Thursday for rectification.

Upon completion of the rectification steps, their debts will be cleared for the payment of the principal and interest they owe to individuals, according to a bulletin issued by the Guangzhou branch of the central bank.