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            *  *  *   C h i n a   N e w s   D i g e s t   *  *  *

                               (News Global)

                            Tuesday, June 8, 1993

Table of Contents                                                 # of Lines
============================================================================
1. News Briefs (1 Item) ................................................. 10
2. Hunger Strike for Detained Chinese Dissident in Shanghai ............. 32
3. China Daily: No Drastic Devaluation of Currency ...................... 34
4. Chinese Newspapers Learn Advertising Game ............................ 20
5. China Said to Have 90 Nuclear Warheads in Tibet ...................... 42
6. Readers' Comments on CND 6.4 Special Series (III) & Closing Remark .. 135
============================================================================

----------------------------------------------------------------------------
1. News Briefs (1 Item) ................................................. 10
----------------------------------------------------------------------------

[AP, 6/7/93] HONG KONG -- Hong Kong has doubled patrols and armed policemen
along the Chinese border since an officer was killed by an illegal immigrant
from China, police said Monday.  Spokesman Raymond Tam said the 1,200
officers who patrol the 24-mile border now carry pistols.  Last month, a
police sergeant was killed by an illegal immigrant armed with a grenade. The
immigrant also died in the explosion.  Police say they arrested 15,413
illegal Chinese immigrants in the first five months this year, 31 percent
more than the same period last year. Tam said most surrendered peacefully.
(Forwarded by: Deming)

----------------------------------------------------------------------------
2. Hunger Strike for Detained Chinese Dissident in Shanghai ............. 32
----------------------------------------------------------------------------
Forwarded by: A CND Reader
Source: UPI
Date: 6/7/93

BEIJING -- Four pro-democracy activists in Shanghai launched a hunger
strike Monday to protest the re-arrest of a dissident who was detained and
released during last week's Tiananmen crackdown anniversary, according to
dissident sources.

The sources, speaking by telephone from Shanghai, said the four began the
hunger strike at 9:30 a.m. Monday outside the offices of the city
government to demand the release of dissident Zhang Xianliang, who was
detained by police on Saturday night.

"They're saying (Zhang) has done nothing wrong and should be allowed out,"
said a member of Zhang's family.

The four were identified as Shanghai pro-democracy activists Wang Yonggang,
Yang Jinghen, Bao Ge and Jing Xingnan.

Zhang, 47, a veteran dissident active in Shanghai during the 1978-1979
Democracy Wall period and the 1989 Tiananmen spring, was detained last
Thursday by police for 24 hours of interrogation and then released on
Friday afternoon.

The police were apparently trying to preempt a meeting of about 30
dissidents Zhang had organized for Friday at a local teahouse.

The meeting coincided with the June 3-4 anniversary of the brutal army
crackdown in 1989 on the massive pro-democracy protests in Beijing's
Tiananmen Square.

Family members said Zhang was detained again Saturday evening after giving
numerous interviews to foreign reporters.

"The police told us this time they would not let him out," one relative
said.

----------------------------------------------------------------------------
3. China Daily: No Drastic Devaluation of Currency ...................... 34
----------------------------------------------------------------------------
Forwarded by: Deming
Source: AP
Date: 6/6/93

BEIJING -- The Chinese government does not plan a drastic, official
devaluation of the currency despite the yuan's plunge on semi-official swap
markets, a state-run newspaper reported Sunday.

After a state-set ceiling at the swap markets was lifted last Tuesday, the
yuan fell from about 8 to the U.S. dollar to about 10 to the dollar. The
yuan closed Friday on the Shanghai Foreign Exchange Swap Market at 10.23.

Swap markets are used by local and foreign businesses to exchange large
quantities of the Chinese currency, which is not convertible on
international markets. Tourists and other visitors change money at banks
and hotels at the official rate.

To show its determination to resist the swap market trend, the State
Administration of Exchange Control last week raised the yuan's official
value against the dollar 5.71 to 5.69.

The China Daily Business Weekly on Sunday quoted an unidentified
administration official as saying the official rate reflects the currency's
real value while the low swap market rates are abnormal.

"The price of the dollar in the markets will gradually reach a reasonable
level and the value of the (yuan) will stabilize," the official was quoted
as saying.

The official said the government did not rule out reimposing controls on
the swap market, although he said such a move was unlikely in the near
future. Beijing put a ceiling on swap market rates in February after the
yuan fell to about nine to the dollar.

With little interest in dollar selling at the state-set rate, activity on
the swap markets plummeted. Foreign businessmen trying to obtain dollars to
import parts or repatriate profits were forced to turn to the black market,
where the rate remained about 10 to the dollar.

----------------------------------------------------------------------------
4. Chinese Newspapers Learn Advertising Game ............................ 20
----------------------------------------------------------------------------
Forwarded by: Zhao Hua
Source: AP
Date: 6/6/93

BEIJING -- Chinese newspapers, which used to be funded entirely by the
government, are starting to make big money by selling their entire front
pages to advertisers.

The China Daily Business Weekly said Sunday that companies are paying
$210,000 for full, front-page ads in the Shanghai newspapers Wen Hui Bao
and Liberation Daily.

The Tianjin Evening News auctioned off all its advertising space for June 6,
which according to tradition is a lucky day, for $175,000, the China Daily
said. It did not say how much the paper's advertising space goes for on an
ordinary day.

Advertising spending nationwide is expected to exceed $1.2 billion this
year, compared with $1.17 billion last year, the paper said.

It is only in the past decade that Chinese newspapers have accepted
advertising, which used to be banned as capitalist. Now, papers not only
run ads but sometimes accept payment for running favorable articles about
companies.

----------------------------------------------------------------------------
5. China Said to Have 90 Nuclear Warheads in Tibet ...................... 42
----------------------------------------------------------------------------
Forwarded by: A CND Reader
Source: UPI
Date: 6/7/93

NEW DELHI, India -- China has deployed about 90 nuclear warheads in Tibet,
some fitted on intercontinental ballistic missiles, the Tibetan government-
in-exile said Monday.

In a report titled, "Tibet: Proving Truth From Facts," the Dalai Lama's
office said the Chinese government had a number of nuclear-manufacturing
facilities in Tibet and also was dumping radioactive waste in the region,
annexed by Beijing in the 1950s.

The 97-page report echoed the recent findings of a Washington- based group,
International Campaign for Tibet, that China had in recent years stepped up
nuclear activities in the world's highest plateau.

"China is reported to have stationed approximately 90 nuclear warheads in
Tibet," the study said, citing information collected from Tibetans.

Chinese Embassy spokesman Li Huming dismissed as "a rumour" the report on
atomic weapons in Tibet. But when asked to list provinces where Chinese
nuclear arms were deployed, Li said: "That's a military secret. I can't
tell you."

China, which reportedly is engaged in a major conventional-military and
nuclear modernization program, is believed by international experts to
have as many as 300 atomic weapons. According to a 1988 Stanford University
study, the Chinese nuclear armory is larger than the combined arsenals of
Britain and France.

The Dalai Lama's report argued that "The Ninth Academy," a major Chinese
weapons-design laboratory at Amdo, northeastern Tibet, had "dumped an
unknown quantity of radioactive waste on the Tibetan plateau."

"Official Chinese pronouncements have confirmed the existence in Tibet of
the biggest uranium reserves in the world," it said, adding that many
Tibetans living near uranium mines died after drinking radioactive water.

The report contended that in Tibet China had nuclear missile bases south of
Lake Kokonor, at Nagchukha and Delingha and to the west of Dhashu, also
known as Haiyan, where Beijing has "established a launch site" for the DF-4,
its first ICBM.

China also had set up, the report claimed, weapon-manufacturing centers at
Dhashu and Tongkhor, which the Chinese have renamed as Huangyuan.

----------------------------------------------------------------------------
6. Readers' Comments on CND 6.4 Special Series (III) & Closing Remark .. 135
----------------------------------------------------------------------------
>From: CND Opinion Editors, 6/7/93

Dear editor: As a participant of the historical event, I am deeply shocked
by some CND readers' judgement on what happened in Beijing in 1989. For me,
the key point is that it was a mass movement caused by complicate reasons.
It should be a common sense that French Revolution in 1793 did not take
place as merely a result of Maximilien de Robespierre's conspiracy. Nor did
Tian'anmenn event. It was not caused, and not carried on, by a small group.
As one of the so-called "student leaders", I would like to confess whatever
we might have done wrong, but I do feel regretful for some people who
regard a few person's behavior as the reason for [objecting] a mass
movement as if they think only the "Gang of Four" should be condemned for
the Cultural Revolution.  (From: Wang Chaohua <xxx@xxx.xxx.ucla.edu>)
                               ___  ___  ___

Dear Editors: As a 6.4 participant, I witnessed all that happened from
middle April to June, esp. from 6.3 midnight to 6.4 morning. I didn't want
to talk it anymore unless with those persons who experienced it with me
during that particular period. I couldn't forget it and will remember it
forever.  Let's remeber 6.4 forever! Let's pray for our people and China!
(From: xxx@xxx.umass.edu)
                               ___  ___  ___

No wonder progress takes place ever so slowly.  We forget things.  We
actually try to forget.  For those who suggest that we forget, please
think those died just for a better China.
(From: MINGFANG LI <VCMGT0J7@VAX.CSUN.EDU>)
                               ___  ___  ___

Dear Editor: I believe only by keeping in mind (NOT ALWAYS talking about)
past events, esp. setbacks and sacrifices, can we learn a lesson, be wiser
not to take the same risky path again, but STUDY to find a better (hopefully
workable) approach to deal with the reality, should it remain largely the
same as before. I guess this approach is being discovered, as evidenced by
the on-goings in China today, which are yet to reach the critical point. As
oversea Chinese, only by helping nurture the elements of that approach can
we help save our country - not only wishfully but successfully.
(From: xxx@xxx.uwo.ca)
                               ___  ___  ___

Dear Editor: Considering the behaviors of some self-called Chinese democracy
activists in the U.S., I have to shout out:
  Those few people, please stop using Tian An Men's blood as your ink in
  filling out your applications for the Green Cards!  Stop painting the red
  carpet leading to your personal interest goal, by using the blood of those
  who sacrificed for the Chinese democratic future!
(From: Zichun Pan <zpan@scf.usc.edu>)
                               ___  ___  ___

Dear editors: I will never forget the June 4th Event. However, I don't have
time to spend on reading these old Tiananmen stores. I believe that many
Chinese nationals here don't need to be "reminded" by this Series.  We all
have been very familiar with these stories. Compared with other columns,
this Series is not a very good one. (From: QT <TANGQ@SLUVCA.SLU.EDU>)
                               ___  ___  ___

As to the contraversy over the role of the leaders of the 1989 democratic
movement, I have one comment: Some said their emotion was manipulated by
some of the leaders. I believe most of such critics are in their twenties
or thirties and have good education backgrounds. People of such backgrounds
should not be easily misled by other people. I cherish these leaders for
very few people at that critical and dangerous moment dared to play that
role.  (From: Wang Yuefeng <lamere@sfu.ca>)
                               ___ ___  ___

Dear Editor: To commemorate "6.4 TAM movement" is not for the benefit of
any individuals.  It is to commemorate all the students, citizens involved
in the event.  It is to commemorate the dead, the sacrificed.  "6.4" is one
of the greatest tragedies in modern Chinese history, it also marks the great
awakening of Chinese people. It is our generation's responsibility to
remember the event and pass it on to the following generations, since it is
priced in many human lives.  As patriotic Chinese, we should work hard to
prevent it to happen again.  And the best way to achieve that is to make
sure all of us and our children to remember "June 4, 1989".
(From: Jun Liu <JUNLIU@RCC.RTI.ORG>)
                               ___  ___  ___

Dear Editors: I completely agree with the reader's comments on those who
always use so-called Tianmen Events like the Bible, to read again and again.
I really feel scik of this. I am also a participant of that movement, but
today, I am happy that "6.4" didn't be develop into a countrywide chaos,
otherwise, Chinese economy will not develop in today's speed, and Chinese
people will not be able to improve their lives. (From: xxx@xxx.uwaterloo.ca)
                               ___  ___  ___

I share the anguish and frustration of the reader who opposed the series of
the Tiananmen Massacre in CND, though I dare not agree with him that "this
event should be forgetten". A lot of Chinese students in US have the same
anger for those people who seem only intereted in taking advantage of the
Massacre for their own benefit one way or the other. I witnessed the
Pro-democray Movement in Beijing from the very beginning to the end and I
know the feeling the reader has: he does not like to hear the event
mentioned again by those people who betrayed the original politcal
objectives of the movement, it hurts!
(From: Li X. L. <GR8670@SIUCVMB.SIU.EDU>)
                               ___  ___  ___

Dear editors: I am very glad to see many different opinions about the
issues of June 4.  Based on the belief of human right (in broad sense), the
"June 4" can not be forgotten because it has already been carved in the
history of human civilization. However, not forgetting does not imply
building hatred.  We should not be divided by this issue.  We should honor
those who died in "June 4". Think about how to help our sisters and brothers
in China to build a developed China and, ultimately, to build a democratic
government that really serves the people, which may take several
generations. (From: Shuguang Hong <cisssh@gsusgi2.gsu.edu>)
                               ___  ___  ___

                        Closing Remark by CND Editors

In the past ten days, there have been three rounds of discussion on CND June
4th Memorial Series in CND-Global (May 30, June 3 and today), many readers
sent in their comments.  Due to the limits to both the volume and the nature
of our publication, we would like to conclude the discussion today.  During
the discussion, tens of readers expressed their opinions in CND-Global, our
criteria of selecting and editing are 1) opinions only, no personal grudges;
2) concise and touching the topic, digressing comments are not included. We
believe that the different opinions received by us have been expressed in
the published comments.

As we indicated in the openning remark of the June 4th Memorial Series (see
May 28's CND-Global), the Series is dedicated to the victims of the Beijing
Massacre of 1989, rather than to the service of any particular political
interest, though it is a fact that June 4th event, just as any mass
movement, was inevitably entangled with various political groups.

The purpose of the series is nothing more or less than people remembering
the victims of the World War II and reminding themselves of the sins German
Nazi and Japanese Emperor's Army committed to human being in the WWII.

We need to look forward, but forgetting is by no means the right way to
look forward. On the contrary, only by remembering these sins and how they
could ever be committed, can we really look forward and progress.

Finally, we thank our readers for your participation in the discussion and
look forward to your continuing support as you have always been giving.

CND-Global Editors

+-------------------------------------------------------------------------+
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+-------------------------------------------------------------------------+
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+-------------------------------------------------------------------------+

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            *  *  *   C h i n a   N e w s   D i g e s t   *  *  *

                               (News Global)

                          Wednesday, June 9, 1993

Table of Contents                                                 # of Lines
============================================================================
1. News Briefs (3 Items) ................................................ 32
2. Chinese Refugees May Have a Chance for U.S. Asylum ................... 45
3. Gangster Won the "Golden Venture" at Card Game ....................... 40
4. US Lawmakers to Call for Immediate End to China's MFN Trade Status ... 48
5. Chinese Firm to Tap Wall Street ...................................... 68
============================================================================

----------------------------------------------------------------------------
1. News Briefs (3 Items) ................................................ 32
----------------------------------------------------------------------------

[New York Newsday, 6/8/93] NEW YORK -- U.S. officials believe that there are
about 24 more ships headed towards American coastlines, loaded with the
desperate human cargo of Chinese refugees.  Despite the possibility of being
detained and deported, Chinese have good reason to risk the journey.  Once
ashore, about 85 percent of those applying for political asylum in the
United States are successful.  A 1989 law grants refugee status to all
Chinese who say they have run afoul of their Country's one-child-per-family
law.
                                ___ ___ ___

[AP, 6/8/93] BEIJING -- Four dissidents who staged a hunger strike outside
the Shanghai police station were released Tuesday after calling off their
protest. But three of them -- Yang Qinheng, Wang Yonggang and Gong Xingnan
-- then issued an open letter to the Shanghai Public Security Bureau
reiterating their demand that veteran dissident Zhang Xianliang be released.
Zhang was detained Thursday, the day before he planned to meet with dozens
of dissidents at a park to commemorate the fourth anniversary of the
military crackdown on the 1989 democracy movement.  He was released Friday,
but was arrested again Saturday.  At least four other Shanghai activists
remain in detention.  (Forwarded by: Deming)
                                ___ ___ ___

[UPI, 6/8/93]  Beijing -- Chinese Premier Li Peng, recovering from a heart
attack, has resumed some of his work and is participating in crucial ongoing
government meetings on how to cool China's overheated economy, Chinese
sources say.  But the 64-year-old premier, who has been out of sight for
more than 6 weeks, has been told by physicians he should not resume a full,
high-pressure schedule in the near future, if ever, the sources said in
interviews in recent days. It was uncertain when the premier would reappear
in public, but the government has scheduled him to host an official
welcoming ceremony next Monday for Malaysian Prime Minister Mahathir
Mohamad, who arrives in Beijing Sunday night.  (Forwarded by: A CND Reader)

----------------------------------------------------------------------------
2. Chinese Refugees May Have a Chance for U.S. Asylum ................... 45
----------------------------------------------------------------------------
Forwarded by: Deming
Source: AP
Date: 6/8/93

NEW YORK -- Barring a shift in U.S. immigration policy, the Chinese refugees
who jumped ship off New York are as likely to gain political asylum as their
countrymen who arrive legally aboard airliners, visas in hand.

And their chances are statistically much better than those of illegal
immigrants from most other countries -- 85 percent of Chinese applicants win
approval, compared with about 35 percent for immigrants as a whole,
according to the Immigration and Naturalization Service.

To win political asylum, applicants must prove they would face persecution
if forcibly returned. The cases typically take about 18 months, during
which many simply vanish into the ethnic communities of U.S. cities.

While the INS has no breakdown, immigration experts say the reason most
often cited by Chinese who seek asylum is their country's strict birth
control policy, which limits families to one child and includes forced
abortions and sterilization.

Lawyers say that policy became an acceptable basis for granting asylum
during the Reagan years, when the White House was pressured by
anti-abortion advocates.

"It came from the political right, from fundamentalist organizations,"
said Andrew Fair, an immigration lawyer. He said the policy was spelled out
in a memo by then-Attorney General Edwin Meese and remains policy.

White House Press Secretary Dee Dee Myers, asked about requests for asylum
based on the sterilization policy, said, "We're reviewing the cases on an
individual basis and will make a determination on an individual basis."

Under normal procedure, most of the 288 Chinese who endured a brutal
three-month voyage aboard the rickety freighter Golden Venture to reach
the United States would be released to await court rulings. Meantime, they
would likely blend into the busy street life of New York's Chinatown.

But Edward J. McElroy, deputy director of the INS office in New York, said
the group would remain in federal detention as "an example of deterrence"
-- to the Asian gangs responsible for the human trafficking.

Chinese seeking to flee to the United States often agree to pay $25,000 to
$30,000 for passage on ships like the Golden Venture, and often spend years
in virtual slavery working off the debt to the smugglers.

Twenty-two percent of New York's illegal aliens now come from China,
compared with 2 percent two years ago, the INS says.

----------------------------------------------------------------------------
3. Gangster Won the "Golden Venture" at Card Game ....................... 40
----------------------------------------------------------------------------
Source: New York Newsday
Written by: Wendy Lin and Peg Tyre
Date: 6/8/93

NEW YORK -- The voyage of the Golden Venture, which crossed three oceans and
survived a mutiny before spilling its human cargo into the icy waters off
Rockaway, began when a Chinese gangster won the ship and its crew in a card
game, investigators said Monday.

As the captain and 10 of its 11 crew were arraigned in federal court in
Brooklyn Monday night, the story of the deadly and brazen smuggling
operation began to emerge in interviews with law enforcement sources.

The mastermind, sources told New York Newsday, is a 28-year-old Chinese
national who goes under several aliases, but is best known among the
Fujianese in Chinatown as Ah Kay.

Kay won the ship, the Golden Venture, and its crew in a Taiwan card game 18
months ago, they said.  He hatched the plan to smuggle more than 300 Chinese
to the United States, sources said, and planted among the crew an associate,
Kin Sin Lee, who led a mutiny of the Burmese and Indonesian crew members
once the Golden Venture was at sea.  In federal court papers, Lee said he
was hired by "Loo Sigh" to arrange for food and sleeping arranging for the
refugees, and was the liaison between the captain and the owner of the
freighter.

It is not, however, the first time that Kay, who fled Chinatown late this
winter, has trafficked in human flesh.  Sources say that smuggling
immigrants, enslaving them until they earn enough to pay off their $30,000
fee and extorting an additional $5,000 to $10,000 from their relatives in
China has made Kay a multimillionaire in his 20s.

"He has the money, he has the connections to the proper authorities all
over the world to operate his scheme," said one law enforcement official.

Said another, "He's a very bad guy.  He's a stone cold killer."  U.S.
authorities have had Kay under surveillance for three years, they say,
without much success.

Sources said it is believed that Kay held court at the Fujian Association,
a business group and unofficial headquarters for the 30 or so members of
the Fuk Ching gang.  It was not clear Monday how long the authorities have
known Kay was running the smuggling operation.

----------------------------------------------------------------------------
4. US Lawmakers to Call for Immediate End to China's MFN Trade Status ... 48
----------------------------------------------------------------------------
Forwarded by: Wenfeng
Source: Knight-Ridder
Written by: Gregory Wright
Date: 6/8/93

Washington -- A bipartisan group of lawmakers today called for immediate
revocation of China's most-favored-nation trade status, saying the Clinton
administration is not doing enough to press for human rights, trade and
weapons reforms by Beijing.

However, most lawmakers have said they support Clinton's policy to continue
MFN for another year because it allows continued trade ties with China but
does more to promote reforms there.

Rep. Gerald Solomon, R-N.Y., said he and Reps. Peter King, R-N.Y. and
Edward Markey, D-Mass., will introduce a resolution to take away China's
MFN for the next year. MFN allows China to ship goods to the US at the
lowest tariff rates--3 pct compared with the usual 70 pct.

Solomon, testifying at a House Ways and Means trade subcommittee hearing,
said despite continued MFN status given China, Beijing has done little to
stop human rights abuses.

China also has refused to open its markets wider to US goods, or stop
missile sales and nuclear technology transfers to hostile nations such as
Pakistan, North Korea and Iran, he said.

President Bill Clinton on May 28 announced he will extend China's MFN for
another year, but may limit it beginning in 1994 if Beijing has not
improved its human rights, trade and weapons proliferation.

But Solomon called the policy weak, saying it will give China another year
to cover up its abuses.

And in order to win renewed MFN for another year in 1994, China need show
real progress in only two areas under Clinton's policy, Solomon said. These
areas are freer emigration and halting the use of free prison labor to make
goods for export to the US, he said.

After China violently suppressed student democratic protests in 1989,
Solomon repeatedly went against former republican President George Bush and
introduced resolutions to revoke China's MFN. However, these resolutions
never gained enough support to override vetos from Bush.

Most lawmakers currently support Clinton's policy.

"We now have a policy on which Congress and the president can work
together," said Rep. Nancy Pelosi, D-Calif., who in the past was a strong
supporter of legislation to limit or revoke China's MFN.

----------------------------------------------------------------------------
5. Chinese Firm to Tap Wall Street ...................................... 68
----------------------------------------------------------------------------
Forwarded by: Deming
Source: Reuter
Written by Jeffrey Parker
Date: 6/8/93

HONG KONG -- Chinese enterprises' thirst for foreign capital has spawned yet
another approach to overseas fundraising -- a Wall Street listing of China
assets by a major Hong Kong investor.

Pioneering the approach is Hong Kong agri-industrial conglomerate
C.P. Pokphand, more than half of whose profits now flow from mainland China
investments.

Pokphand on Monday petitioned the Securities and Exchange Commission to list
on the New York Stock Exchange 4.42 million shares of Bermuda-incorporated
Ek Chor China Motorcycle, a mainland holding company it owns.

The flotation aims to raise US$80 million, Pokphand senior executive Erwin
Go said, and about US$65 million would flow back into China for expansion of
four Ek Chor joint ventures.

The chief beneficiary is Shanghai Motorcycle, equally owned by Ek Chor and
Shanghai Automobile Industry Corp, one of China's biggest car makers. Much
of the proceeds will finance a new Shanghai Motorcycle factory in the city's
Pudong district.

The move shows the creativity of China's investment-starved enterprises as
they circumvent the chaotic stock markets in Shanghai and Shenzhen to pursue
capital overseas.

"This is evidence that boundaries do not exist any more," said Pokphand's
Go. "Even for a company that is actively involved in managing (Chinese)
joint ventures it is possible to raise capital in the U.S. financial
system."

Frustrated in China, Ek Chor takes its lead from Brilliance China Automotive
Holdings, the Bermuda-incorporated listing vehicle of China's Jinbei
Automotive that in October pioneered the first mainland flotation in New
York.

"Ek Chor has been keen to list in Shanghai, but has been told it must wait,"
said China market analyst Lawrence Ang of SBCI Finance Asia.

"They thought it would be easier, more convenient and much faster to go to
New York after they saw Brilliance get a listing there."

Ang said he believes this is the first time a Hong Kong firm will have
raised cash by listing China assets on a major western exchange rather than
in the British colony.

Hong Kong will continue to dominate China fundraising.

Bilateral pacts to be signed on June 19 will allow Chinese listings in the
colony for the first time, easing pressure for "back-door" access secured by
takeovers of Hong Kong counters.

China has nominated nine state enterprises for Hong Kong listings, the first
of which is expected this month.

Pokphand planned a publicity tour for the Ek Chor listing next week and
hoped for a regulatory green light to complete it before July, Go said.

The price per share for the Ek Chor listing was expected to be between US$16
and US$18, Pokphand said in its announcement.

Of the 4.42 million shares to be offered, 3,632,000 will be issued by Ek
Chor and 788,000 will be sold by Pokphand, whose 98 per cent stake in Ek
Chor will shrink to 72 per cent.

Pokphand is a Thai-controlled investment holding company with subsidiaries
engaging in agricultural products, poultry, property and investment
holdings. It has a secondary listing on the International Stock Exchange in
London.

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