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Keyword: goldmarkets

China Announces New Bailout of Big Banks

01/07/2004 6:37:24 AM PST · by woerm · 6 replies · 169+ views
The New York Times ^ | 01/07/2004 | Keith Bradsher

<p>HONG KONG, Jan. 6 - China announced a complex transfer on Tuesday of $45 billion from its soaring foreign exchange reserves to two of the four big government-owned banks, the third large bailout in the banking system in less than six years.</p>

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