27.10.2008 - Market swings expose Chinese offshore derivatives trades
From FT: Large fluctuations in global commodity and currency markets have exposed a string of offshore derivatives trades made by large Chinese companies, prompting the government to issue a warning to speculators. China has been largely insulated from the direct effects of the global financial crisis because of its tight cross-border capital controls, but last week a procession of state-owned companies with offshore operations reported large losses from bad currency and commodity bets...... Full Article: Source