Post apologises
IN AN article published in the Sunday Morning Post on August 22, 1993, under the headline ''Bankers 'flee with billions' '' we alleged that many bank officials had fled China after siphoning off US$28 billion and made reference to the People's Bank of China, the Bank of China, the Agricultural Bank of China and Mr Ma Yong Wei, an official of the Agricultural Bank of China.
The statements were subsequently referred to in two articles published in the South China Morning Post and in the Business Post, on August 24, 1993.
Having now investigated the matter in detail, we recognise that the statements complained of in each of the articles are untrue and totally unfounded.
We regret that the articles were ever published and wish to retract the articles and extend our sincere apologies to the People's Bank of China, the Bank of China, the Agricultural Bank of China and Mr Ma Yong Wei for the undoubted distress, embarrassment and damage that the articles will have caused to each of them.
At the request of the People's Bank of China, the Bank of China, the Agricultural Bank of China and Mr Ma, we have agreed to donate a sum of money to charity.
