PROJECT PERFORMANCE AUDIT REPORT

ASIAN DEVELOPMENT BANK PPA: PRC 21197 PROJECT PERFORMANCE AUDIT REPORT ON THE SHANGHAI INVESTMENT AND TRUST CORPORATION PROJECT (Loan 933-PRC, LOE 7031, and TA 1086-PRC) IN THE PEOPLE’S REPUBLIC OF CHINA December 2000 CURRENCY EQUIVALENTS Currency Unit – Yuan (Y) At Appraisal At Project Completion At Operations Evaluation (October 1988) (October 1995) (September 2000) Y1.00 = $0.2687 $0.1183 $0.1208 $1.Y3.7221 Y8.4518 Y8.2773 ABBREVIATIONS ADB − Asian Development Bank EA − Executing Agency ERPS − exchange risk pooling system IDC − interest during construction ITIC − international trust and investment company LOC − line of credit LOE − equity MIS − management information system MOF − Ministry of Finance NBFI − nonbank financial institution OEM − Operations Evaluation Mission PCR − project completion report PPAR − project performance audit report PRC − People’s Republic of China SITEN − Shanghai SITICO Enterprise Company Limited SITICO − hai International Trust and Investment Corporation SMG − Shanghai Municipal Government SMZ − hai Municipal Zone SOE − state-owned enterprise TA − technical assistance NOTES (i) The fiscal year (FY) of the Government ends on 31 December. (ii) In this report, “$” refers to US dollars. Operations Evaluation Office, PE-561 CONTENTS Page BASIC DATA ii EXECUTIVE ...