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March 2007

China’s leaders have blown away the bureaucracy and given the corporate bond market a much-needed shot in the arm

The clumsily-named National Financial Working Conference held late January in Beijing was a momentous event for the world of Chinese finance. But you wouldn't have known this from the painfully vague closing statement or the woefully inadequate reporting by the international financial press.

The conference has only been held twice before: in 1997, following the Asian financial crisis; and in 2002, immediately after China's entry into the WTO.

The first meeting saw an historic ...

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