In other words, I am not convinced by the argument that, in terms of structural reforms, there is an opposition between rules and ownership. On the contrary, they can be mutually reinforcing. Conclusion In conclusion, there is a strong case for us to apply the same principles to the governance of structural reforms as we do to fiscal governance.
Reform in this front went ahead in parallel with the pilot reform program of non-tradable shares in listed companies, the introduction of shortterm corporate financing bills and asset securitization products in the money market, and the progress in the reform of rural credit cooperatives.