China wants to stop profiteering at temple sites
BEIJING (AP) - China is telling tourist-favoured Buddhist temples: Don't let money be your mantra. Authorities announced a ban this week on temples selling shares to investors after leaders of several popular temples planned to pursue stock market listings for them as commercial entities.
Even the Shaolin Temple of kung fu movie fame was once rumored to be planning a stock market debut - and critics have slammed such plans as a step too far in China's already unrestrained commercial culture.
"Everywhere in China now is about developing the economy," complained Beijing resident Fu Runxing, a 40-year-old accountant who said he recently went to a temple where incense was priced at 300 yuan (S$59) a stick.
"It's too excessive. It's looting," he said.