The corporate sector became increasingly resilient to the reform, which was reflected in improving import and export indicators amid a host of shocks, including a stronger RMB, lower export rebate rate and rising labor cost. Export was not substantially affected. From 2006 to 2008, the golden period for China’s foreign trade, export grew by 23.4 percent annually, and import by 19.7 percent.
For example, current crypto assets still fail to ensure clear and legally certain settlement finality6, which is a necessary condition for a safe and efficient payment system, as emphasised by the Principles for Financial Market Infrastructures (PFMI) issued by the CPMI and the International Organization of Securities Commissions (IOSCO).