... and reform the management system, which would improve the independence and professionalism of the central bank. At this time China was experiencing a financial crisis. Their currency was being devalued, their stock market was on a decline, and the bad debt accumulated by the banking system was huge. The government estimated that more than 20% of China's state bank loans were non-performing ... the banking system, penalizing people who violate financial laws and regulations, and improving efficiency. Current Situation Another step toward an efficient banking market occurred when Dai bann...

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