Account will be taken of the fact that the containment of a credit portfolio’s inherent risk must be compatible with the ability to absorb any potential losses from sales. The number and size of firms specialized in credit recovery are increasing, but the level of competition in this sector remains unsatisfactory. Some banks have set up ad hoc units.
The opening-up facilitated three major policy reforms, i.e., trade and investment liberalization, market-based exchange rate regime reform, easing of exchange control, including lowering the market access threshold. As a result, competition and market gradually became generally applicable policy mechanism. 3. Service industry has opened up in a similar process In the past, economists treated the service industry as a non-tradable industry.