Oil and gas is one of the industries China hopes to open up to private capital. Photo: Xinhua
Oil and gas is one of the industries China hopes to open up to private capital. Photo: Xinhua

Short-term pain ahead as China pushes on with economic reforms

David Liao says market must play bigger role as maintaining status quo would threaten prosperity

Oil and gas is one of the industries China hopes to open up to private capital. Photo: Xinhua
Oil and gas is one of the industries China hopes to open up to private capital. Photo: Xinhua
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