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File photo of Lai Xiaomin, president of China Huarong Asset Management Co Ltd and deputy of China's 12th NPC, Shanghai, June 28, 2013. [Photo/IC] |
China has too many large banks, but not many small-sized ones. We should make efforts to develop the small and medium-sized banks, especially private ones. Under the "new normal", the non-performing loans of banks have rebounded, but the situation is still under control. China's financial market is stable, and the deposit insurance system for banks will be released this year.
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