urgent priority in relation to China’s financial improvement, and the reform of administration system of state-owned industrial banks has been identified as the key precedence within the monetary system reform course of. Characteristics of that system embody: bureaucratic control, which has resulted in the establishment of state-owned enterprises in uncompetitive in addition to aggressive sectors, and in the continuing existence of monopolies in lots of industrial sectors; the dearth of a clear demarcation between possession rights and administration rights, which
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