Cash-strapped bank shut

PUBLISHED : Monday, 02 October, 2000, 12:00am
UPDATED : Monday, 02 October, 2000, 12:00am

China's central bank ordered Luoyang Trust & Investment to shut on August 15 as part of a clean-up of the government's cash-strapped investment firms. A report in the China Daily Business Weekly said that Luoyang Trust, owned by the government of Henan province, would repay individual depositors before the end of this month. Creditors who had made loans to Luoyang must make their claims within three months of August 15, the report said.