| Abstract | The development of mainland China's stock market over the past ten years has largely been a success in assisting the reforms of the state-owned enterprises (SOEs) and channelling household savings to the corporate sector. The latest push in market and SOE reforms has increased the urgency to strengthen the stock market's role in the economy as well as revive foreign interest in Mainland stocks. Stock market reform cannot be isolated from overall infrastructure reform, such as the establishment of a well-defined operating environment and fair market for all participants including investors, companies and regulators. |
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