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Capital
Market
Since the reform and opening began,
China has continuously expanded the capital market by improving
the credit and loan mechanism, and developing stock and state debt
markets. At the beginning of the 1980s, the reform of the credit
and loan mechanism, beginning with ??unified plan, multi-level control,
connection of deposits with loans, and being responsible for making
up differences?? developed in accordance with the ratio between assets
and debts, and eliminating the limits for the sizes of loans. In
order to match this important change, new measures have been adopted,
such as re-granting loans, re-discounting, reserve fund rates and
making market business public, thus standardizing and strengthening
the control and adjustment of the credit and loan market. At the
same time, the stock market grew from nothing to become a large-scale
stock market, symbolized by the Shanghai and Shenzhen stock exchanges.
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