CHINA
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From Times Staff and Wire Reports
Illegal Currency Trading Crackdown: China has vowed to crack down on illegal currency trading that has sprung up in areas where economic reforms have caused a financial boom. A spokesman for the State Administration of Foreign Exchange Control said the illegal trading mostly took place in economically booming areas of south China and along the eastern coast. Violators include some Chinese institutions, Hong Kong companies operating in China and joint ventures with foreign companies, he said.
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