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Stock markets in Asia took a beating that has not been seen since the Sept 11 attacks in 2001 as investors sold off equities on worries that interest rates in the United States will be raised faster than expected, and hurt corporate profits and economic growth.
BEIJINGERS seem to become a bit more reluctant to put their money in banks' baskets and more willing to use it to buy financial instruments, including stocks, mutual funds and insurance, according to figures from the Beijing business department of the People's Bank of China in the nation's capital.
The Government wants to renegotiate some of the privatisation projects to ensure that it does not continue to be shortchanged and the people unduly burdened.