GITIC explained

Guangdong International Trust and Investment Corporation (GITIC) was one of People's Republic of China's largest state-owned companies.[1] On January 16, 1999, its bankruptcy was the biggest in the history of the country to date.[2]

Notes and References

  1. Web site: Bankruptcy the Chinese Way; Foreign Bankers Are Shown to the End of the Line . MARK LANDLER . 22 January 1999 . The New York Times . 20 December 2011.
  2. Web site: The East Is in the Red . T.K. Chang . March 1999 . International Financial Law Review . 20 December 2011. []

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