People’s Bank Law formalizes central-bank authority

The tax package reorganized collection and made VAT a key shared revenue source. It improved central fiscal capacity and shifted the state-firm relationship toward tax-based regulation.

The policy bank was created to finance infrastructure and strategic development outside ordinary commercial lending. It gave the state a channel to direct long-term capital as commercial finance...

The policy bank supported export credit and overseas economic cooperation. It connected national industrial strategy with global markets while retaining state influence over the terms of engagement.

The policy shifted housing costs from work units toward a mix of public support, funds, credit and individual purchase. Access became more dependent on income and urban status, widening the stakes...

The policy bank supported agricultural procurement and rural development finance. Specialized public lending remained part of the reform era, although rural credit and services stayed unevenly...

The law defined commercial banking and distinguished it from central-bank functions. State banks remained responsible for policy lending and carried non-performing loans, so financial specialization...

The corporate framework became operational, supporting limited-liability and shareholding structures. State firms became more market-facing without ending public ownership; restructuring could also...

The Fifth Plenum set priorities for 1996-2000, including structural adjustment and enterprise reform. Multi-year planning persisted, now coordinating market development and global competition with...

The law regulated insurers and contracts as financial services expanded. Market insurance diversified risk but was accessible unevenly by income, place and employment.

The 1996-2000 plan translated party priorities into a state program for growth and structural adjustment. Planning continued alongside markets, though aggregate targets could obscure unequal effects...