HONG KONG -- For an indication of how China's military-industrial complex is dealing with U.S. sanctions, consider the case of China Satellite Communications.
China Satcom, which Washington placed off-limits to U.S. investors, is preparing a private placement of up to 400 million new shares and has opened a bank account for the expected funds. "The process with regard to the private placement is moving along in an orderly way," Li Zhongbao, the company's chairman, told investors during an online conference on Sept 16.
