China: Sino Gold attacked via TV programme
Date: 11 May 2008
Mining company Sino Gold has found itself the target of official criticism via the China Central Television (CCTV) which accused the company of poisoning water, running roughshod over the concerns of local people and enjoying tax-free profits as a result.
The attack, which has been broadcast several times, and the transcript for which has appeared widely on internet news and blog sites, was criticised by the company for being "hugely biased" and being riddled with large numbers of "gross inaccuracies". For example, it answered the claim that it had failed to contribute anything to the local economy by observing that it had invested 46m yuan in local programmes.
Other companies active in China have expressed the fear that the biased programme may reflect an emerging official campaign to keep foreign mining companies out of China and to favour local firms instead.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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