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Despite the slow progress in implementing many of the large-scale economic and financial reforms endorsed in a landmark policy blueprint last year, China has made headway in modernising its financial market infrastructure and launching new financial and commodity derivatives.
At the Third Plenum meeting in November 2013, Communist party leaders pledged to give markets a “decisive” role in resource allocation, including liberalising interest and exchange rates and putting privately owned companies on a par with state-owned enterprises.